Asian Shares Edge Higher On Optimism About Slowing Inflation

Asian stocks rose broadly on Tuesday after Wall Street stocks ended higher overnight for a second straight session, fueled by a surge in technology stocks.

Most of the regional markets including South Korea, Malaysia, Singapore, China, Hong Kong and Taiwan were closed for the Lunar New Year holiday.

The dollar held near a nine-month low to the euro and gave back recent gains against the yen as U.S. Treasury yields slipped amid expectations that the Federal Reserve will moderate its aggressive anti-inflation posture.

U.S. Treasury Secretary Janet Yellen on Monday said a strong labor market and easing inflation in the United States were "very hopeful signs.".

Japanese stocks rallied to lead regional gains, led by technology stocks. The Nikkei average jumped 1.46 percent to 27,299.19, marking its highest close since Dec. 16 as investors braced for the earnings season.