Asian Markets Rise on Steady Yen, Eyes on U.S. Inflation Data

Asian stocks saw an uptick on Tuesday, driven by strong Japanese shares amid a stable yen. Investors are focused on upcoming U.S. inflation data to predict the Federal Reserve's next policy move. Meanwhile, oil prices eased after a significant jump, and gold saw a demand increase as a safer asset.

Asian stocks saw an uptick on Tuesday, primarily boosted by a robust performance in Japanese shares amid a stable yen. Traders are keenly awaiting the upcoming U.S. inflation report to better assess the Federal Reserve's policy outlook following a week of volatile market activities.

Oil prices declined in early trading after a notable 3% surge in the prior session, driven by concerns over escalating conflict in the Middle East potentially impacting global crude supplies. The demand for safe-haven assets like gold also rose.

Japan's Nikkei surged over 2% during early trading, a welcome relief post the previous week's erratic movements triggered by a rising yen and apprehensions surrounding a potential U.S. recession.

(With inputs from agencies.)