GOOD MORNING ASIA

On Tuesday , U.S. data and the Federal Reserve's dovish turn kept lifting sentiment of Asian Indices, Meanwhile in Asia, trade was light, with markets in greater China, South Korea, Singapore and Indonesia are all closed for the Lunar New Year.

MSCI's gauge of stocks across the globe reached a two-month high, having risen more than 13% from its near two-year low late in December, helped by the Fed's change of tack.

Australian shares jumped 1.95 percent, with long-battered financials surging on short-covering after a special government-appointed inquiry excoriated Australia's financial sector for misconduct but left the structure of the country's powerful banks in place.

On Wall Street, the S&P 500 gained, with technology and industrials the biggest risers as investors braced for another big week of fourth-quarter corporate earnings reports.

The British pound slipped to $1.3035, having quickly erased brief gains on Monday following a newspaper report that goods shipped to Britain from the European Union could be waved through without checks in the event of a "no-deal" Brexit.

On Tuesday, the Reserve Bank of Australia is expected to keep interest rates on hold, though some market players now expect a cut later this year due to mounting signs of economic weakness.

Oil prices were supported by OPEC-led supply cuts and U.S. sanctions against Venezuela.

U.S. West Texas Intermediate (WTI) crude futures rose 0.38% to $54.77 a barrel. They hit 2 1/2-month high of $55.75 on Monday.