China's central bank surprised many by lowering its 14-day repo rate by 10 basis points
With more easing to come, investors are wagering on continued US economic growth
Extended holidays in China and South Korea made for thin trading conditions
Oil prices were steady in early trading after dropping in the previous sessions on weak demand and supply woes
Fed chair Jerome Powell speaks in Jackson Hole and investors assume he will acknowledge the case for a cut
Whether Monday's wild gyrations mark the final bang of a global selloff that started to build last week or signal the beginning of a protracted slump is impossible to know
Nikkei futures were trading at 33,640, suggesting the cash market could open around 2,000 points higher
Japan's Nikkei, tumbled 3 per cent as the strengthening yen clouded the outlook for the country's exporters
Focus will be on whether the BOJ will raise rates, with several Japanese media reporting that the bank would consider raising rates
The US is back on a disinflationary path, Powell said on Tuesday, although he cautioned that policymakers need more data
Boeing plans to take control of the Spirit's manufacturing that supports its commercial jet line-up, including building frames for its cash-cow 737 Max
Investor worries of a cooling US economy, however, kept a lid on risk appetite, while the focus in Asia is on how Indian markets fare after stocks sank and the rupee slid
In Europe, investors expect the European Central Bank on Thursday to cut the benchmark rate by 25 basis points to 3.75 per cent
A downward revision to consumer spending meant the US economy grew more slowly than expected in the first quarter, data showed on Thursday
Holidays in the United States and UK made for thin trading ahead of Friday's figures on core personal consumption expenditures
Traders are pricing in 47 basis points of easing this year from the Fed, with a rate cut in November fully priced in
Gold marched back toward record levels, and crude oil added to gains after rebounding strongly
There are also reports Chinese authorities are laying the groundwork for a sale of 1 trillion yuan ($138.39 billion) in longer-dated bonds to help fund stimulus spending at home
China stocks also gained, with blue-chip shares 0.14 per cent higher, while Hong Kong's Hang Seng Index rose 1.4 per cent, having touched an eight month high in early trading
Issues like subsidies, public stockholding for food security persist