Mumbai, May 8 -- Asian stocks rose broadly on Thursday despite U.S. stocks falling for a second straight session overnight.

Traders reacted to the Federal Reserve's status-quo rate decision and awaited cues from upcoming trade negotiations between China and the United States.

Later in the day, the U.S. and U.K. are expected to announce a deal to reduce tariffs.

The dollar index was largely steady in Asian trading as Goldman Sachs raised its inflation forecast, in part to account for dollar weakness.

Gold drifted lower while oil edged up slightly after falling more than $1 in the previous session.

China's Shanghai Composite index ended up 0.28 percent at 3,352 as defense stocks surged amid rising tensions between India and Pakistan in...