The Bank of Japan's decision on last Friday to adopt a negative interest rate policy came as huge surprise to global markets. Today benchmark Nikkei 225 index rallying 1.31% to 17,747.52 points while Tokyo's broader Topix gauge jumped 1.60% to 1,455.00 points.

Hong Kong's benchmark Hang Seng index slipped 0.05% to 19,672.43 points and mainland China's benchmark Shanghai Composite fell 0.41% to 2,726.34 points at the same time.

Korea's benchmark Kospi index jumped 0.62% to 1,923.84 points in Seoul.

Australian markets were largely upbeat, with the Australian S&P/ASX 200 index trading 0.91% higher at 5,051.10 points in Sydney.

New Zealand's benchmark S&P/NZX 50 index rose 0.27% to 6,187.00 points this afternoon in Wellington.