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HONG KONG: Asian markets rose on Wednesday as dealers await key policy meetings in the United States and Japan this week, while technology stocks were lifted by another strong earnings report from Apple.
The yen eased as currency investors expect another batch of easing measures from the Bank of Japan when it meets for its rate-setting meeting on Friday, while the euro was on the rise after suffering a selloff earlier in the week.
Tokyo was 0.83 per cent higher by the break, Hong Kong gained 0.18 per cent, Seoul was 0.20 per cent higher and Shanghai added 0.25 per cent.
Sydney and Wellington were closed to mark ANZAC day.
Regional shares are recovering after big losses on Monday that were caused by political uncertainty in France and the Netherlands and weak manufacturing figures from China and the eurozone.
Eyes are on the US Federal Reserve, which is due to complete its two-day rate-setting meeting Wednesday and a news briefing afterwards by chairman Ben Bernanke that may offer hints to the economy's direction.
“This (Fed meeting) could lead to a big swing in sentiment, especially if the magic words of monetary easing are mentioned,” said Justin Harper, Singapore-based strategist at IG Markets, in a note, according to Dow Jones Newswires.
Japan's central bank will make its next rate decision on Friday, with market-players hoping for more easing measures to kickstart the stuttering economy, which is struggling to recover from last year's March 11 disasters.
The BoJ has this year already pledged tens of billions of dollars to help businesses but economic growth remains anaemic.
Technology shares were boosted after US giant Apple announced profit in the first three months of the year almost doubled year on year thanks to blockbuster sales of the iPad and iPhone.
Japan's Renesas Electronics rose 0.9 per cent and Advantest climbed 2.4 per cent while Sony added 1.4 percent.
And in Seoul LG Electronics rose 1.1 per cent and Samsung Electronics jumped 1.3 per cent.
The euro gained against the yen on expectations of easing from the BoJ.
It was also given support by successful bond auctions in the Netherlands, which has been rocked by the collapse of its government, and debt-laden Spain and Italy.
In early Tokyo trade the euro was buying $1.3199 and 107.52 yen, against $1.3192 and 107.35 yen in New York late Tuesday.
The greenback changed hands at 81.50 yen, against 81.36 yen.
On oil markets New York's main contract, light sweet crude for delivery in June, was up 13 cents at $103.68 and Brent North Sea crude for June gained nine cents to $118.25.
Gold was at $1,641.70 an ounce at 0300 GMT, compared with $1,639.05 late Tuesday.
