Investing.com - Asian shares fell on Tuesday with investors concerned over the regional growth prospects with the Reserve Bank of Australia releasing minutes from its most recent meeting that noted uncertainty over forecasts.
The Nikkei 225 fell 0.25%, while the Shanghai Composite eased 0.33%.
The S&P/ASX 200 dropped 0.31% as investors mulled the implications of central bank minutes from August that highlighted "considerable" uncertainty over inflation forecasts in Australia that makes setting a track for rate forecasts difficult.
Overnight, U.S. stocks surged to fresh all-time record closing highs on Monday, as materials rose sharply and crude futures soared to its highest level in three weeks following market moving comments from Russia's energy minister.
Earlier on Monday, both WTI and Brent crude rose by nearly 3% after Russia energy minister Alexander Novak suggested that his nation could be open to holding discussions with major producers from OPEC in the coming weeks in an effort to stabilize persistently low oil prices on the global marketplace. Last week, Saudi Arabia energy minister Khalid Al-Falih triggered a rally in crude futures with bullish comments that producers from the Middle East could hold informal talks on the sidelines of a summit next month in Algeria.
The Dow Jones Industrial Average rose 59.58 or 0.32% to 18,636.05, while the NASDAQ Composite index added 29.12 or 0.56% to 5,262.02, each extending the current seven-week high. The S&P 500 Composite index, meanwhile, jumped 6.10 or 0.28% to 2,190.15, as eight of 10 sectors closed in the green. Stocks in the Basic Materials, Energy and Financials industries led, each gaining more than 0.5% on the session. Stocks in defensive sectors such as Utilities and Telecommunications led on Monday, each closing lower for the session.