Japan's benchmark index rallied on Tuesday following the Bank of Japan's monetary policy announcement but the rest of Asian shares were mixed on profit-taking.
Central banks dominated trade in Asia. The Bank of Japan left monetary policy steady at the conclusion of its two-day meeting and said it will extend a special lending program by one year to support the economy. Meanwhile, minutes from the Reserve Bank of Australia's latest meeting reaffirmed its commitment to a period of rate stability.
With U.S. markets shut on Monday for the President's Day holiday, traders looked to Europe for trading cues, where stocks closed higher, led by a 1 percent gain in the FTSE 100.
(Read more: What the Fed will tell markets this week)