Asian stocks ended mixed on Tuesday despite the White House flagging imminent trade talks with China and calling for best-offer proposals from trade partners to fast-track trade negotiations.
The dollar recovered slightly, and gold slipped from a nearly four-week high hit the previous day while oil prices continued their sharp rise due to escalating geopolitical tensions, stalled Iran nuclear talks and wildfire-related supply disruptions.
China's Shanghai Composite index rose 0.43 percent to 3,361.98 as weak PMI data as well as looming trade risks spurred stimulus hopes.
China's manufacturing activity in May shrank at its fastest pace since September 2022, a private survey showed earlier today.