Asian shares made 15-month highs on Tuesday on renewed confidence of U.S. interest rate cuts, while traders waited on a policy meeting in Australia later in the day and had a close eye on a falling yen. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3% in early trade. Japan's Nikkei gained 1.3% and S&P 500 futures were steady after the cash index logged a 1% rise overnight.
"Hence, markets are likely to remain in a broader range with stock-specific action in the near term," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
"We expect the market to consolidate in a broader range and base to gradually shift higher," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Asian stocks rose broadly in thin trade on Monday, with Japanese and South Korean markets closed for a public holiday. The dollar index dropped as Friday's data showing weak U.
Early cues from the U.S. Futures Index suggest that Wall Street might open higher. The U.S. economic calendar for this week is relatively quiet. In the Asian trading hours, oil prices rose about 1 percent as Saudi Arabia raised the price of its flagship crude.