Asian stocks rose on Tuesday, with markets in Tokyo, Shanghai and Seoul ending the session at new highs, as investors focused on a flurry of central bank meetings.
The Bank of Japan left its massive monetary stimulus program unchanged on Tuesday in a widely expected move. At a news conference, Bank of Japan Governor Haruhiko Kurodo said the central bank could not "rule out" the possibility of prices dipping below zero but added that such declines would be short-lived given the bank's massive monetary stimulus.
Meanwhile, Bank Indonesia (BI) ended a meeting with a decision to leave monetary policy unchanged, following an unexpected interest rate cut in February. The benchmark Jakarta Composite closed up 0.07 percent, while the rupiah hovered near its lowest level since September 1998 at 13,208 per dollar.
Beyond Asia, the Federal Open Market Committee (FOMC) commences its two-day monthly meeting and markets will be watching whether the U.S. central bank will eliminate the word "patient" from its post-meeting statement, paving the way for an interest rate hike this year.