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Japan's Nikkei 225 surged over 1 per cent to hit a fresh lifetime high on October 29 leading amid mixed trading across Asian markets ahead of the highly expected US Federal Reserve's second 25 basis points (bps) cut.

The Topix index, Tokyo Stock Price Index, witnessed little change, South Korea's Kopsi rose 0.17% and the Kosdaq dipped 0.25%.

On the other hand, Australia's S&P/ASX 200 slipped 0.16% and Hong Kong markets remained closed for holidays.

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Also Read: 'Intense But Productive': Piyush Goyal Wraps Up India–EU FTA Talks

US Fed Rate Meet - Key Expectations

Meanwhile, markets are pricing in close to 100% odds that the Fed open

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