Asian stocks were mostly flat on Tuesday as investors remained cautious ahead of key US economic data and upcoming elections in the US and France. The Japanese yen, however, continued its slide, hitting a record low against the euro. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3 per cent, recovering slightly after a 1.4 per cent decline over the past three sessions. Japan's Nikkei rose modestly by 0.5 per cent. The technology-heavy Nasdaq tumbled over one per cent overnight on Wall Street, dragged down by a seven per cent drop in shares of artificial intelligence leader Nvidia. Investors appeared to be rotating out of tech stocks. The broader Dow Jones, however, managed to rally 0.7 per cent, reaching a one-month high. Market participants are closely watching the upcoming release of the US personal consumption expenditures (PCE) price index on Friday. This key inflation gauge is expected to show a slowdown to 2.6 per cent in May, the lowest level in over three years. The Japanese yen remained under pressure despite warnings from authorities about excessive volatility. The yen rose slightly against the US dollar to 159.45 yen per dollar, but it stayed near its weakest level since late April when Japan intervened in the currency market. The yen hit a record low of 171.49 yen against the euro overnight. Oil prices showed little movement, with Brent futures held steady at $85.95 per barrel and US crude hovered around $81.60 per barrel. Gold prices edged down 0.3 per cent to $2,325.52 per ounce. Attribution: Reuters
