Melbourne city centre skyline along the Yarra River.
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Asia-Pacific markets tracked Wall Street gains on Tuesday, rising across the region ahead of key economic data from China.
The People's Bank of China is scheduled to announce its preferential lending rates for one-year and five-year notes, and a Reuters survey of economists predicts the one-year rate will remain unchanged at 3.35% and the five-year rate at 3.85%.
The one-year LPR serves as the benchmark for most business loans, while the five-year LPR serves as the base rate for mortgages.
Investors will also be assessing the minutes of the Reserve Bank of Australia's August meeting. At its meeting on August 7, the bank kept its base rate unchanged at 4.35%, but noted that “inflation remains above target and is proving to be durable.”
Japan's Nikkei stock average rose 1.1%, while the Tokyo Stock Price Index added 0.78%.
South Korea's KOSPI rose 0.99%, while the small-cap KOSDAQ added 1.19%.
Australia's S&P/ASX 200 rose 0.48% ahead of the RBA announcement.
Hong Kong Hang Seng Index futures are also showing an uptrend, trading at 17,741 compared to the HSI's last close of 17,569.57.
