Asian stocks build on gains ahead of US inflation data [Video]

Asian stocks mostly rose again Tuesday as worries about a US recession that sent markets into turmoil last week eased ahead of key inflation data, while oil prices held gains on concerns about a broader war in the Middle East.

Tokyo’s Nikkei returned from a long weekend to lead the rally and briefly top the levels touched at the start of the month before last Monday’s rout, helped by a weaker yen and a Bank of Japan pledge not to hike interest rates further.

While the mood on trading floors has calmed since last week’s upheaval, investors remain cagey after a big miss on US jobs creation fanned concerns about the world’s top economy, while geopolitical concerns also remain a drag on sentiment.

And trade was cautious ahead of the release of US consumer and wholesale price figures this week that could play a role in the Federal Reserve’s monetary …