Oil prices fell in early Asian trade on Tuesday after the U.S. government said it will release more crude from its Strategic Petroleum Reserve (SPR) and on other reports that more supply is coming into the market.

The dollar treaded water on Tuesday as investors braced for an highly anticipated inflation report, while the yen strengthened ahead of the expected announcement of surprise pick Kazuo Ueda as the next Bank of Japan governor.

Malaysia's economy grows at the fastest pace in Southeast Asia, expanding 8.7 per cent in 2022.

Singapore's economy grew slightly less than initially estimated in the fourth quarter from a year ago, official data showed on Monday, and the government kept its forecast for annual growth to come in at 0.5% - 2.5% this year.

British employers expect to raise wages for their staff by the most in at least 11 years but the 5% pay deals for workers would still fall well below expected inflation, a survey published on Monday showed.

Global economic growth may be reaching a “turning point”, supported by falling inflation and China’s reopening, International Monetary Fund managing director Kristalina Georgieva said on Sunday.