US markets saw excellent close to the month of January, yesterday. Dow Jones closed higher by 368 points. Nasdaq jumped another 190 points to record its best month in over 1 year.Bond yields closed unchanged near 3.50%. US dollar index closed near 102. Asian markets have opened in the green today, following the stellar run in US stocks yesterday. All eyes are on Federal Reserve action today. The consensus is that it will go for a 25-basis rate hike.Japanese 'Nikkei' is trading higher by 170 points. South Korean 'Kospi' and the Taiwan indices are also up strongly.Chinese stocks could see action as reopening is causing big recovery in economic growth.