Shares in Asia-Pacific were mixed on Tuesday, while the Reserve Bank of Australia kept its cash rate target unchanged.
In Japan, the Nikkei 225 gained 51.51 points, or 0.2%, to 27,787.48.
The Japanese yen traded at 122.65 per U.S. dollar, weaker as compared with levels below 122 seen against the greenback last week.
Markets in Hong Kong, China and Taiwan were shuttered for holiday.
Oil prices were higher in the afternoon of Asia trading hours on Tuesday, with international benchmark Brent crude futures up 0.9% to $108.50 per barrel. U.S. crude futures climbed 0.89% to $104.20 per barrel.
Oil prices jumped on Monday as investors braced for the prospect of more Western sanctions on Russia following allegations of civilian massacres near Ukrainian towns.
The European Union’s new sanctions on Russia are likely to include steel, luxury, jet fuel and more. The bloc, however, remains divided over whether to extend those sanctions to energy imports.
Meanwhile, the Reserve Bank of Australia announced Tuesday its decision to keep the cash rate target unchanged at 0.1%.
Following that decision, the Australian dollar surged more than 1% to $0.7626, continuing to trek upward after yesterday’s jump from below $0.75.
In other markets
In Singapore, the Straits Times Index regained 28.04 points, or 0.8%, to 3,445.01
In Korea, the Kospi index nicked ahead 1.3 points, or 0.1%, to 2,759.20.
In New Zealand, the NZX 50 recovered 68.2 points, or 0.6%, to 12,121.39.
In Australia, the ASX 200 added 14.13 points, or 0.2%, to 7,527.86.
