Stocks in Asia rise, yen wobbles after volatile start to week

SINGAPORE - Asian stocks inched higher on Tuesday as investors awaited a slew of economic data, corporate earnings and the U.S. Federal Reserve's policy meeting, while the yen was slightly weaker a day after suspected intervention rescued it from 34-year lows.

Markets had been anticipating that Japan might intervene to prop up the yen after the currency fell more than 10% against the dollar this year.Japan's top currency diplomat Masato Kanda said on Tuesday that authorities were ready to deal with foreign exchange matters "24 hours", while declining again to comment on whether the finance ministry had intervened to prop up the yen a day earlier.

The yen has been under pressure as U.S. interest rates have climbed and Japan's have stayed near zero, driving cash out of yen and into higher-yielding assets."Markets will be waiting with bated breath to see if the Fed turns more hawkish, which will support the U.S. dollar and undermine the appeal of the yen. If the Fed does not sound as hawkish as markets fear, this could help the yen to strengthen.

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