HONG KONG – Asian shares rose on Tuesday morning. Investors pinned hope on more clarity ahead of a number of central bank meetings.

MSCI's gauge of Asia-Pacific stocks outside Japan was up 0.47 percent. 

Australia's S&P/ASX 200 edged up 0.1 percent as investors await a Reserve Bank of Australia meeting scheduled later on Tuesday that is widely expected to result in a cash rate rise.

"The focus is on RBA today," said Milroy. "Like everyone we are expecting 0.5 percent cash rate rise. However also expecting and hoping we get some commentary that they are nearing the end of their rising cycle."

The European Central Bank will meet on Thursday to discuss rate actions, followed by a US Federal Reserve meeting on Sept 21.

"There is a feeling that the next 75bp hike in September will see a deceleration afterwards," said Sean Darby, Hong Kong-based global head of strategy for Jefferies.

E-mini futures for the S&P 500 index rose 0.68 percent in the Asian morning session, indicating a rosy start for Wall Street on Tuesday. US markets were shut on Monday for the Labour Day holiday.

Japan's Nikkei 225 slid 0.3 percent.

European stock indexes fell on Monday, the euro dropped below 99 cents for the first time in twenty years and European gas prices surged after Russia said its main gas supply pipeline to Europe would stay shut. 

Oil prices slipped early on Tuesday, paring the previous session's 3 percent gain, as a deal among members of the OPEC+ group to cut output by 100,000 barrels per day in October was seen as a largely symbolic move to stem the market's recent slide.

Brent crude futures fell 0.47 percent to US$95.29 a barrel at 0149 GMT. US crude futures however rose 2.44 percent to US$88.99 a barrel.

Spot gold rose 0.4 percent to US$1717.2 an ounce.

The dollar index inched down 0.2 percent after touching a 20-year peak in the previous session.