The dollar was hanging on to gains made on Friday after upbeat spending figures led markets to trim the chance of a half-point easing from the Federal Reserve
Solid growth and resilience in the world's largest economy trumped investors' disappointment on Nvidia's underwhelming results
Investors now await US weekly jobless claims, which have gained prominence
Gold prices were just shy of a record peak, while the dollar firmed and the yen hovered near its highest
Traders see very little chance that BOJ could hike rates in Oct after recent sell-off, but Ueda said the central bank stood ready to raise rates if economy and prices move in line with its forecast
US stock futures similarly rose, with S&P 500 futures last up 0.02 per cent while Nasdaq futures advanced 0.12 per cent
Fed chair Jerome Powell speaks in Jackson Hole and investors assume he will acknowledge the case for a cut
Mainland Chinese blue chips added 0.4%, although Hong Kong's Hang Seng slipped 0.3%
Japan's Nikkei rose more than 2 per cent in early trading after Monday, a welcome relief after last week's volatility that began with a massive sell-off spurred by rising yen and fears of US recession
Nikkei futures were trading at 33,640, suggesting the cash market could open around 2,000 points higher
Focus will be on whether the BOJ will raise rates, with several Japanese media reporting that the bank would consider raising rates
Regional stocks took their cues from Wall Street, where the S&P 500 and tech-heavy Nasdaq slipped further after Wednesday's frenetic selling
The US dollar was broadly firm, with traders watching out for an inflation reading on Friday and Federal Reserve meeting next week
Investors seemed well-prepared for news that US President Joe Biden had dropped out of the election race and endorsed Vice President Kamala Harris for the Democratic ticket
A slowdown in hiring and small uptick in unemployment is forecast, would leave open the door for US rate cuts
The US is back on a disinflationary path, Powell said on Tuesday, although he cautioned that policymakers need more data
Asian markets were little fazed by the first US presidential debate between Democratic President Joe Biden and his Republican rival Donald Trump ahead of the November election
Shares in bellwether chipmaker Micron Technology slid 8 per cent in US after-hours trade as it met rather than topped lofty revenue expectations. Japan's Nikkei fell 1 per cent.
Risk sentiment was also capped as hawkish comments from Federal Reserve officials kept near-term US rate cut expectations in check in a boost to the dollar
Asian shares were mostly lower Monday after US stocks coasted to the close of their latest winning week on Friday, even as Nvidia's stock cooled further from its startling, supernova run. US futures and oil prices dropped. In Tokyo, the Nikkei 225 index rose 0.7 per cent to 38,869.94, making it the sole major benchmark in Asia to post gains on Monday. The yen weakened to 159.93 per dollar during morning trading. Minutes of the Japanese central bank's last policy meeting released Monday put the yen under renewed pressure as it indicated that Any change in the policy interest rate should be considered only after economic indicators confirm that, for example, the CPI inflation rate has clearly started to rebound and medium-to long-term inflation expectations have risen. Meanwhile, it was reported that Masato Kanda from the Minister of Finance said officials are ready to intervene to support the currency at any time. Elsewhere, Hong Kong's Hang Seng dropped 1.2 per cent to 17,815.42,