U.S. business activity cooled in April to a four-month low due to weaker demand, while rates of inflation eased slightly even as input prices rose sharply, suggesting some possible relief ahead as the Federal Reserve looks for signs that the economy is ebbing enough to bring inflation down further.

Electric car sales will rise strongly in 2024 and increasingly undercut oil demand, the International Energy Agency (IEA) forecast on Tuesday, adding affordability and charging infrastructure would be key to future growth.

Overall business activity in the euro zone expanded at its fastest pace in nearly a year this month as a buoyant recovery in the bloc's dominant service industry more than offset a deeper downturn in manufacturing, a survey found.

Indonesia reported a $4.47 billion trade surplus in March, data from the statistics bureau showed on Monday, larger than a forecast surplus of $1.13 billion in a Reuters poll as imports fell more than expected.

Japan's factory activity contracted but approached the break-even point in April, a business survey showed on Tuesday, suggesting the key sector is finally picking up after months of sluggishness.

Asian shares extended gains on Tuesday, taking cues from Wall Street as focus shifts to earnings results from U.S. tech giants in the week, while a still strong dollar pressured the Japanese yen to fresh 34-year lows.