South Korea’s KOSPI rose over 5% and Japan’s Nikkei gained about 3% in early trading, lifting MSCI’s Asia-Pacific index from last week’s seven-month low. (EPA Images pic)SINGAPORE: Asian stocks rose on Tuesday as a drop in oil prices after US president Donald Trump said he plans to hold off on new military strikes against Iran lifted sentiment ahead of US inflation data that could sway the near-term interest rate outlook.

Brent crude futures were hovering at their lowest levels since early September, well below US$100 per barrel, as investors pinned their hopes on possible talks between US and Iran. They were last down 1% at US$91.56 a barrel.

The US-Israeli war with Iran, which erupted at the end of February, has stoked inflationary concerns across the globe, spurring major central banks to raise rates in recent months.