Asian markets gain ahead of key bank meetings

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 percent higher by the break, Hong Kong gained 0.18 percent, Seoul was 0.20 percent higher and Shanghai added 0.25 percent.

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. (AFP)