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Homeasia marketsNikkei rallies 3% after BOJ; rest of Asia stocks fall on profit-taking

Nikkei rallies 3% after BOJ; rest of Asia stocks fall on profit-taking

Japan's benchmark index rallied on Tuesday following the Bank of Japan's monetary policy announcement but the rest of Asian shares were mixed on profit-taking.

Central banks dominated trade in Asia. The Bank of Japan left monetary policy steady at the conclusion of its two-day meeting and said it will extend a special lending program by one year to support the economy. Meanwhile, minutes from the Reserve Bank of Australia's latest meeting reaffirmed its commitment to a period of rate stability.

With U.S. markets shut on Monday for the President's Day holiday, traders looked to Europe for trading cues, where stocks closed higher, led by a 1 percent gain in the FTSE 100.

(Read more: What the Fed will tell markets this week)

Nikkei 3.1% higher

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