Asian shares have advanced following a rally on Wall Street driven by encouraging update on U.S. inflation. Oil prices rose and U.S. futures were little changed.

Asian stocks are mixed after Wall Street’s mostly positive performance ahead of key U.S. inflation data that could influence the pace of the Federal Reserve’s rate cuts

European stocks and U.S. futures rose on Tuesday as a sell-off in bond markets moderated, although investors remained cautious ahead of U.S. inflation data on Wednesday and the start of U.S. President-elect Donald Trump's second term in office next week.