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Asia-Pacific markets rose on Tuesday, tracking gains on Wall Street, which ticked up after U.S. retail sales data appeared to ease recession concerns.
Investors will be keeping a close watch on Japanese markets, as the Bank of Japan kicks off its two-day monetary policy meeting on Tuesday. The central bank is widely expected to hold interest rates steady at 0.5% when the meeting concludes on Wednesday.
The BOJ’s two-day meeting coincides with the U.S. Federal Reserve, with the latter also expected to keep interest rates unchanged.
Japan’s benchmark Nikkei 225 started the day 1.34% higher, while the broader Topix index rose 1.26%.
Over in South Korea, the Kospi index advanced 0.76% at the open while the small-cap Kosdaq added 0.38%.
Australia’s S&P/ASX 200 was trading 0.63% higher.
Meanwhile, futures for Hong Kong’s Hang Seng index stood at 24,186 pointing to a stronger open compared to the HSI’s last close of 24,145.57.
Stateside, U.S. stocks made a comeback from a four-week decline exacerbated by U.S. President Donald Trump’s chaotic tariff policy rollout and falling consumer confidence.
The S&P 500 gained 0.64% to close at 5,675.12, while the Nasdaq Composite climbed 0.31% and ended at 17,808.66. The Dow Jones Industrial Average also advanced 353.44 points, or 0.85%, to end at 41,841.63.
The 30-stock index was bolstered by gains in Walmart and International Business Machines. All three of the major averages posted back-to-back gains.
— CNBC’s Sean Conlon and Sarah Min contributed to this report.
