Hong Kong (CNN Business) Asian stocks traded mostly higher Tuesday after the Bank of Japan kept its ultra-low interest rates unchanged. Investors are also waiting for clues on other key events, including a rate decision from the Federal Reserve and progress on US-China trade talks in Shanghai.

Kospi KOSPI Japan's Nikkei rose 0.7%. South Korea'srose 0.6%. Australia's S&P/ASX 200 moved up 0.3%. Taiwan's Taiex reversed early gains and dropped 0.3%.

Hang Seng Index HSI Shanghai Composite Index SHCOMP Hong Kong'sand therose 0.5% and 0.7%, respectively.

The Bank of Japan maintained its short-term interest rate target at -0.1%. It also left its guidance on interest rates unchanged, and said it intends to keep rates where they are through at least next spring. But the central bank added that it "will not hesitate" to make adjustments if necessary.

The Federal Reserve's two-day policy meeting will also start Tuesday. The US central bank is widely anticipated to cut interest rates for the first time since 2008.

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