Oil prices fell on Tuesday, pulling back sharply from a recent recovery as markets hunkered down ahead of several more cues on U.S. monetary policy this week, while strength in the dollar also weighed. 

The dollar was parked below recent peaks on Tuesday, as a three-week rally faded and traders waited on economic data to figure on whether it's warranted to push the dollar up any further.

Malaysia's exports rose 1.6% from a year earlier in January, slower than expected, government data showed on Monday.

The Malaysian Automotive Association (MAA) has released vehicle sales data for the month of January 2023, announcing that a total of 49,461 vehicles were delivered to buyers last month. This is 27,196 units less than the all-time high monthly TIV of 76,657 units sold in December, or a 35.5% decrease in volume.

China's banking regulator and the central bank plan to adopt a more differentiated regulatory system for assessing commercial banks' capital adequacy and risk management, in a step to better prevent risks in the country's financial system.

U.S. import prices dropped for a seventh straight month in January amid declining costs for energy products, leading to the smallest annual increase in imported inflation in two years.