Asian shares are mostly higher in muted trading after the U.S. Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy through lower rates in Septe

Australian stocks opened higher, extending gains in the previous session. Futures show, Japan stocks to open higher. Taiwan, South Korea, Hong Kong and China markets are closed for Lunar New Year holidays.

Economists polled by Reuters expect Australia’s inflation to rise 2.5% in the 12 months to the December quarter, from 2.8% in the previous year.