Japanese markets closed up Wednesday after the yen softened against the US dollar as a rate hike by the bank of Japan looked less likely, prompting investors to buy export-related stocks.
In Tokyo, the market closed up 0.3 percent, or 58 points, to 17,261.35.
The BOJ's policy board convened a two-day meeting Wednesday. A decision on interest rates is expected Thursday.
In Tokyo currency trading, the U.S. dollar was quoted at 120.72 yen, compared to 120.61 yen late in New York and 120.32 yen in Tokyo during the previous session.
Gainers included construction company Shimizu Corp., which rose 3.23 percent to 671 yen and real estate firm Mitsui Fudosan Co., which added 1.89 percent to 2,970 yen. Nippon Steel Corp. posted a 0.92 percent gain to 656 yen.
Airline stocks were also among winners amid a 16 percent drop in oil prices so far this year. Japan Airlines Corp., the country's largest airline, rose 3.75 percent to 249 yen.
Meanwhile, Hong Kong's Hang Seng Index ended 0.2 percent higher, or 36.62 points, at 20,064.57, as property stocks rose on expectation of higher home prices while oil companies fell amid the recent plunge in oil prices.
Elsewhere:
BANGKOK: Thailand's SET Index shed 0.7 percent.
BOMBAY: India's Bombay Senex edged up 0.1 percent.
JAKARTA: Indonesia JSX Composite gained 0.2 percent
KUALA LAMPUR: Malaysia's KLSE Composite gained 0.6 percent.
MANILA: The benchmark Philippine Stock Exchange Index rose 28.73 points, or 0.9 percent.
SEOUL: South Korea's Kospi index fell 0.7 percent.
SHANGHAI: China's Shanghai Composite dropped 1.5 percent
SINGAPORE: Singapore's Straits Times Index eased 0.02 percent
SYDNEY: Australia's S&P/ASX 200 declined 0.5 percent.
TAIPEI: Taiwan's Weighted Price Index rose 0.5 percent.
WELLINGTON: New Zealand's NZSX-50 added 0.2 percent,
With files from wire services
