Asian stock markets have risen as investors held on to hopes that the Bank of Japan would conclude a two-day policy meeting by announcing steps to help jump-start the world's third largest economy.
"The policy decision could have a significant bearing on how the Nikkei and the rest of the region trade," said Stan Shamu of IG Markets in Melbourne, Australia.
Investors are also awaiting data on US housing starts and existing home sales to be released later in the day.
Japan's Nikkei 225 index rose 0.3% to 9,146.62. Hong Kong's Hang Seng index gained 0.4% to 20,674.27 and Australia's S&P/ASX 200 added 0.2% to 4,402.80.
Benchmarks in Singapore, Taiwan and mainland China also rose. South Korea's Kospi fell 0.5% to 1,995.09.
Wall Street posted mixed results at close on Tuesday after FedEx, the world's second-largest package delivery company, cut its outlook for global growth and industrial production while slashing the forecast for company earnings.