Asian shares and the euro steadied on Tuesday, drawing support from expectations that the US Federal Reserve will take fresh economic stimulus measures this week.

MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.1 per cent to a 16-month high, led by Australian shares which gained 0.3 per cent to their highest in nearly two months on a rise in metals and oil prices and hopes for Fed action.

South Korean shares opened 0.3 per cent higher while Japan’s Nikkei stock average opened down 0.2 per cent.