Asian shares mostly up ahead of Japan bank decision

Asian shares mostly up ahead of Japan bank decision

HONG KONG - Asia's markets mostly rose on Tuesday following big losses in the previous session while investors track a Bank of Japan meeting to see if it will announce any fresh economy-boosting measures.

The gains came despite a negative lead from Wall Street, while the dollar and euro also edged up slightly against the yen as the Japanese central bank wraps up a two-day policy meeting.

Tokyo rose 0.74 per cent by the break, Hong Kong added 0.16 per cent, Sydney was 0.10 per cent higher, Shanghai slipped 0.47 per cent and Seoul was flat.

Global markets suffered a sell-off on Monday in response to a shock trade deficit in China that raised fears about the world's number two economy and key driver of global growth.

On Wall Street, the Dow fell 0.21 per cent, the S&P 500 dipped 0.05 per cent and the Nasdaq gave up 0.04 per cent.

Investors were also taken aback by a downward revision of Japanese economic growth for 2013, giving the BoJ's meeting more significance.

While officials are not expected to add to the bank's already vast monetary easing scheme for now, attention will be on what it has to say about the economy and its plans for the near future.

Analysts suggest policymakers will keep their powder dry until they can assess the impact of a controversial sales tax that comes into effect next month, which some fear could derail a nascent economic recovery by hitting consumer spending.

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