Asian stocks rose, with the benchmark regional index on course for its biggest gain in a year, after the Federal Reserve unexpectedly refrained from cutting U.S. economic stimulus.

Nikkei 225 14,766.18 +260.82 +1.80 %

Hang Seng 23,530.46 +413.01 +1.79 %

S&P/ASX 200 5,295.55 +57.41 +1.10 %

Shanghai Composite 2,191.85 +6.29 +0.29 %

The MSCI Asia Pacific Index climbed 2.3 percent to 141.99 as of 2:33 p.m. in Hong Kong, poised for the highest close since May 22.

Markets in mainland China, South Korea, Taiwan and Sri Lanka are closed for holidays.

BHP Billiton Ltd., the world’s largest mining company, rose 1.7 percent to A$36.69

Rio Tinto Group, the second-biggest, advanced 3.1 percent to A$63.63.