Japan’s Nikkei 225 index led gains in Asia-Pacific markets on Monday, while China shares extended gains after data showed its economy kicked off the year on a strong note.
The U.S. Federal Reserve will start its Federal Open Market Committee meeting on Tuesday. A Reuters poll of economists is expecting the Fed to hold its benchmark interest rates steady at 5.25% to 5.5%.
In Asia, the Reserve Bank of Australia is expected to keep its cash rate steady at 4.35% when it concludes its meeting on Tuesday.
In contrast, a Reuters poll expects the Bank of Japan to exit its negative interest rate policy and lift its benchmark rate to 0% from -0.1% when it makes its announcement on Tuesday.
Japan’s Nikkei 225 rose 2.2%, while the Topix climbed 1.6%.
In Europe, the Bank of England is expected to keep rates unchanged at 5.25%.
Data showed retail sales and industrial production in China rose more than expected in the first two months of the year. The unemployment rate for cities was 5.3% in February.
China’s CSI 300 index rose 0.49% after the data.
Hong Kong’s Hang Seng index pared declines to trade near the flatline after opening nearly 0.3% lower.
