Asian shares mixed

Hong Kong - Asian stocks were mixed on Tuesday as traders awaited the result of a Bank of Japan policy meeting, following disappointing Japanese quarterly growth figures the day before.

After a day of gains, Asia's markets had no cues from Wall Street which was closed for the annual Presidents' Day holiday, while European markets ended mixed.

Tokyo's Nikkei-225 index moved higher, trading up 0.92% by mid-morning, while Hong Kong slipped 0.32%, Shanghai lost 0.68% and Seoul fell 0.37%. Sydney was flat, edging down 0.03%.

Asian stocks rose the day before, mirroring a buoyant Wall Street, as investors regained their confidence in the US economy following a stimulus cut by the US Federal Reserve and as China increased its credit supply.

Investors were eyeing the result of a two-day policy meeting by the Bank of Japan due to wrap up Tuesday afternoon, with expectations the central bank will hold off fresh easing measures.

"Comments from the Bank of Japan following its two-day policy meeting will be eyed - especially since Monday's October-December GDP figures were poor. But expectations for truly meaningful announcements are slim," Hiroichi Nishi, SMBC Nikko Securities general manager of equities, said.

While the world's number three economy grew 1.6% over 2013 - its best performance in three years - it slowed to 0.3% in the October-December quarter, presenting a major challenge for Prime Minister Shinzo Abe's bid to stoke growth after almost two decades of deflation.

US stocks vaulted higher in their Friday session, as investors shrugged off a report showing poor industrial output last month as being mainly weather-related.

The Dow Jones Industrial Average jumped 0.79% to 16 154.39 on Friday, the broad-based S&P 500 rose 0.48% to 1 838.63, while the tech-rich Nasdaq Composite Index tacked on 0.08% to 4 244.03.

On currency markets the dollar was at 101.96 yen by mid-morning Tuesday, up from 101.81 yen in London late Monday and the mid-101 yen range in Tokyo earlier Monday.

The euro bought $1.3702 against $1.3695, while rising to 139.65 yen from 139.42 yen.

Oil prices were mixed on Tuesday morning in Asia with New York's main contract, West Texas Intermediate for March delivery, rising 48 cents to $100.78, while Brent North Sea crude for April eased ten cents to 109.08.

Gold fetched $1 322.85 an ounce at 03:15 GMT compared with $1 325.30 late Monday.

*Dow Jones Newswires contributed to this article.