Asian stocks advanced Tuesday after the three-day U.S. government shutdown ended and the Bank of Japan maintained its massive monetary stimulus program. Regional markets shrugged off news that the US will impose steep tariffs on imported washing machines and solar panels.
The Shanghai Composite jumped 1.3 percent and the Hang Seng added 1.7 percent as investors turned more optimistic about growth in 2018.
The Nikkei and Topix gained 1.3 percent and 1.0 percent respectively after the Bank of Japan kept the monetary policy unchanged and offered a more upbeat view on inflation expectations, helping ease jitters that it might shift toward a tighter policy. The BoJ’s policy interest rate remained at minus 0.1 percent. Mitsui Fudosan advanced and Mitsubishi Estate climbed. DIC rallied on a Nikkei report that the chemical company's group operating profit rose 5 percent in 2017.
The S&P/ASX 200 climbed 0.8 percent and the All Ordinaries were 0.7 percent higher. Woodside Petroleum, Santos, Origin Energy and Beach Energy advanced with higher oil prices after comments from Saudi Arabia that supply curbs would continue beyond 2018. The big four banks rose along with miner Whitehaven Coal. Medical equipment maker ResMed soared after reporting a surge in quarterly revenue.
The Kospi was up 1.4 percent thanks to foreign and institutional investors buying. The Sensex gained 1.0 percent to close at a new record high as firm global markets and growing optimism about India's economic recovery boosted investor sentiment.