Traders work on the floor of Hong Kong Stock Exchange. Hong Kong index was almost unchanged, edging up 4.68 points to 22,269.61 yesterday.

AFP/Tokyo

Asia’s markets rose yesterday following big losses in the previous session but investors were largely unmoved by the Bank of Japan’s decision to stand pat on its stimulus programme.

The gains came despite a negative lead from Wall Street, while the dollar and euro edged up slightly against the yen.

Tokyo added 0.69%, or 103.97 points, to 15,224.11, Seoul climbed 0.48%, or 9.56 points, to close at 1,963.87 and Sydney was flat, edging up 2.3 points to 5,413.8.

Shanghai advanced 0.10%, or 2.09 points, to 2,001.16 and Hong Kong was almost unchanged, edging up 4.68 points to 22,269.61.  Global markets suffered a sell-off on Monday in response to a shock trade deficit in China that raised fears about the world’s number two economy while Japan revised down its growth for 2013.

Investors had been waiting for the BoJ’s two-day meeting to end expecting it to hold steady on monetary policy but hoping it would give some idea of its plans for the scheme.

The bank said it would keep its powder dry for now, adding the economy was picking up, despite slowing growth in the last quarter of 2013 and fears that a sales tax hike due next month will dent the recovery.

“The Bank of Japan’s decision to stay the course at today’s meeting came as no surprise, but we remain convinced that further easing will be required in coming months,” said Marcel Thieliant from London-based Capital Economics.

The yen dipped slightly after the announcement. The dollar was quoted at 103.30 yen in the afternoon, against 103.26 yen in New York on Monday, while the euro fetched 143.30 yen compared with 143.28 yen.

The single currency was also quoted at $1.3865 against $1.3875.  Tensions in Ukraine also remain on the radar as world leaders struggle to find a diplomatic solution to the crisis.  On Monday US Secretary of State John Kerry refused to attend talks in Moscow after his Russian counterpart Sergei Lavrov snubbed Kiev’s interim leaders.

Lavrov denounced Kerry for turning down an invitation to meet but Washington hit back that the time was not right as there was no sign that Russian President Vladimir Putin was prepared to negotiate.

Washington has led global efforts to defuse tensions since Russian troops deployed last week in Ukraine’s Crimea peninsula following the ouster of the pro-Moscow president Viktor Yanukovych.

In other markets, Singapore closed up 0.09%, or 2.77 points, at 3,129.40, Kuala Lumpur’s main stock index gained 0.36%, or 6.49 points, to 1,828.55, Bangkok rose 1.13% or 15.23 points to 1,364.28, Taipei rose 0.43%, or 37.09 points, to 8,702.33,Wellington fell 0.31%, or 15.90 points, to 5,101.94 and Manila added 0.65%, or 42.35 points, to 6,529.58.