Asian markets moved higher on Tuesday, as the yen declined and the Reserve Bank of India's new governor held his first policy meeting to set rates.

Urjit Patel, who took over from Raghuram Rajan last month, may cut rates at the  meeting after inflation slowed to a five-month low in August. However, a slim majority of analysts surveyed by Bloomberg and others see no rate change, with the benchmark repo rate tipped to stay at 6.5%.

In Mumbai the Sensex was recently up 0.14% at 28,283.78 ahead of the RBI's announcement, which will come well before the start of the U.S. trading day. Patel will then hold a press conference before U.S. markets open at 2.45 p.m. in Mumbai, which is 5.15 a.m. Eastern time.

In Tokyo the dollar was recently up 0.50% against the yen at ¥102.6200, while the euro rose 0.33% against the Japanese currency to ¥114.3400.

That lifted exporters, including Olympus  and Mitsui Chemicals, which were both up well over 3%.

The Nikkei 225 was up 0.83% at 16,735.65 and the Topix closed up 0.71% at 1,340.21.

In Hong Kong the Hang Seng was recently up 0.12% at 23,612.99.

In Sydney the S&P/ASX 200 closed up 0.10% at 5,484.00. Henderson Group was up 11.6% after yesterday's news in London that it will buy Janus Capital Group (JNS) to create a fund manager with $320 billion of assets under management.

The Reserve Bank of Australia today left its cash rate unchanged at 1.5%.  It noted that it expects low inflation "for some time."

U.S. stock futures moved higher. The Dow Jones mini and the S&P 500 mini were both recently up 0.08%. Oil fell, with West Texas intermediate recently trading down 0.55% at $48.54 a barrel.

Mainland Chinese indices were closed for a public holiday.