FILE PHOTO: A man looks at an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023. REUTERS/Kim Kyung-Hoon/File PhotoHONG KONG : Asian stocks rose in cautious trade on Tuesday, with investors choosing to focus on corporate earnings prospects and the resilience of the U.S. economy ahead of tensions in the Middle East.
A recent shift in tone from Federal Reserve officials - hinting that interest rate hikes might be over - has also cheered investors and bond markets lately. U.S. President Joe Biden will visit Israel on Wednesday as the country prepares to escalate an offensive against Hamas militants that has set off a humanitarian crisis in Gaza and raised fears of a broader conflict with Iran.
In currency markets the Australian dollar ticked up a little to $0.6354 as minutes from the most recent central bank meeting struck a surprisingly hawkish tone, while the U.S. dollar steadied elsewhere.