TOKYO — Asian shares mostly rose Tuesday as investors were encouraged by another rally on Wall Street.
Japan’s benchmark Nikkei 225 gained 1.3% to 37,903.43.
The Bank of Japan was expected to keep its benchmark interest rate unchanged at a monetary policy board meeting due to wrap up Wednesday.
The U.S. also is due to announce its latest decision on interest rates Wednesday.
Elsewhere in Asia, Hong Kong’s Hang Seng jumped 1.8% to 24,580.78, led by buying of tech-related stocks. The Shanghai Composite inched up less than 0.1% to 3,429.36.
Australia’s S&P/ASX 200 rose 0.2% to 7,869.90. South Korea’s Kospi edged 0.1% lower to 2,608.20.
In Indonesia, the benchmark JSX tumbled 5%. Investors have been selling shares in state-owned banks after the government launched at sovereign wealth fund, called Danantara, that so far has not proven popular.
On Wall Street, stocks climbed again on Monday as the roller-coaster veered upward.
The S&P 500 rose 0.6% to 5,675.12, for a after it fell late last week. The Dow Jones Industrial Average climbed 0.9% to 41,841.63, and the Nasdaq composite added 0.3% to 17,808.66.
On Wall Street, Intel climbed 6.8% to extend its gains after the chip company named former board member and semiconductor industry veteran last week.
PepsiCo added 1.9% after saying it had , a prebiotic soda brand, for a net $1.65 billion.
They helped offset a 4.8% drop for Tesla. The electric-vehicle company’s stock has been struggling this year amid worries that its brand has , who has been leading efforts to cut spending by the U.S. government. Tesla vehicles and dealerships of people unhappy with Trump and his policies.
Stocks have been mostly on worries that Trump’s -a- announcements on tariffs and other policies are creating so much uncertainty that they’ll push U.S. households and businesses to freeze their spending, which would . Surveys have shown sharp , and some are already warning about changes in behavior from their customers.
A report Monday said last month than economists expected. But that mainly was due to weaker-than-forecast sales of automobiles and lower fuel costs.
The U.S. economy closed last year . Excitement at the time was also building about policies coming from Trump to accelerate growth. , and that could help keep the economy growing, but talk of a recession alone can undermine confidence.
Virtually no one expects the Fed to make a move Wednesday. The central bank has been keeping rates steady so far this year, preferring to see how conditions play out. Late last year it was cutting rates sharply in hopes of relaxing pressure on the U.S. economy after high inflation had slowed.
In energy trading, benchmark U.S. crude added 19 cents to $67.77 a barrel. Brent crude, the international standard, dropped 20 cents to $71.27 a barrel.
In currency trading, the U.S. dollar edged up to 149.59 Japanese yen from 149.21 yen. The euro cost $1.0914, down from $1.0922.
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AP Business Writer Stan Choe contributed to this report.
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