Asian shares rallied across the board as buying interest spiked after he US Federal Reserve reduced the number of interest rate hikes expected this year. MSCI's broadest index of Asia-Pacific shares outside Japan climbed to a two-month high and traded at least 1.5% higher on the day. Japanese Nikkei was weighed down by strong Yen. The index is currently trading 0.20% lower on the day. Asian equities took cues from risk-on action on Wall Street. The S&P 500 closed at its highest level this year following dovish Fed. Among regional indices, Australian stocks added 0.8%, South Korea's Kospi rose 1.2% and Shanghai was up 0.6%. For more information, read our latest forex news.