Asian shares gain as BOJ defends ultra-easy stance, oil eases on Shanghai lockdown

HONG KONG: Japanese shares led gains in Asian stocks on Tuesday as the Bank of Japan (BOJ) defended its ultra-easy monetary policy stance, while oil slid on fears of lower demand from China as Shanghai shut down to combat a COVID-19 surge.

Japan's Nikkei gained 1.1%, while MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.67%, also helped by the first direct talks between negotiators in the Russia-Ukraine conflict in more than two weeks, even as fighting raged on.