Asian stocks rose on Tuesday, with Tokyo and Seoul markets ending the session at new highs, as investors focused on a flurry of central bank meetings. A positive finish on Wall Street overnight underpinned gains. Stocks rose more than 1 percent as investors cheered a pause in the U.S. dollar’s rally and eyed renewed weakness in oil prices.
The Bank of Japan left its massive monetary stimulus program unchanged on Tuesday in a widely expected move. Traders are now awaiting Governor Haruhiko Kuroda’s news conference at 3.30pm local time for further details about the decision.
Meanwhile, Bank Indonesia (BI) will announce its policy decision later in the day, but no change is expected following an unexpected interest rate cut in February. The benchmark Jakarta Composite eked out modest gains ahead of the rate decision, while the rupiah hovered near its lowest level since September 1998 at 13,205 per dollar.
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