Asian shares edged up in early trade on Tuesday, following an upbeat session on Wall Street while investors turned their attention to key U.S. inflation data and the Federal Reserve's interest rate decision this week.

Investors will be closely monitoring U.S. Consumer Price Index (CPI) data, due to be released on Tuesday, and Producer Price Index (PPI) data, due out Wednesday, for a reading of how well the Fed's tightening cycle has managed to curb inflation.

The equity index's gains partly reflected expectations for a Fed tightening pause for the first time since January 2022 and for CPI and PPI to come in lower than the prior month, investors and strategists said.

Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3% while U.S. stock futures - the S&P 500 e-minis - rose 0.1%

Japan's Nikkei advanced 1.59% and Australian shares were down 0.03%.

Source : Reuters