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· Oil shed some of its massive gains on Tuesday as the United States flagged the possible release of crude reserves, while stocks inched lower as investors remained on the sidelines ahead of this week’s Federal Reserve meeting.

MSCI’s All-Country World Index, which tracks shares across 47countries, was down 0.1% on the day.

Earlier in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.66%. Chinese shares fell 1.07%, while Hong Kong shares slumped 1.18%.

· Japan’s Nikkei share average inched up to a 4-1/2-month closing high on Tuesday, as soaring oil prices triggered by attacks on Saudi crude facilities boosted oil and gas-related companies.

The benchmark Nikkei average rose 0.1% to 22,001.32, its highest close since April 26, marking the 10th consecutive day of gains and the longest rally since October 2017.

The broader Topix gained 0.3% to 1,614.58, also its highest finish in 4-1/2 months.

Market players said risk appetite had not been affected in spite of Saturday’s attack on Saudi oil facilities.

Investors broadly remained on the sidelines ahead of key policy decisions by the U.S. Federal Reserve on Wednesday and the Bank of Japan on Thursday.

· China stocks fell on Tuesday as Beijing kept a key money rate unchanged even as recent readings pointed to further downward pressure on the world’s second-largest economy.

The CSI300 index fell 0.9%, to 3,920.34, by the end of the morning session, while the Shanghai Composite Index lost 1.0%, to 2,999.84.

· European stocks stalled Tuesday morning as investors monitor the fallout from the weekend’s Saudi oil attacks.

The pan-European Stoxx 600 hovered around the flatline in early trade, basic resources stocks shedding 1.2% while shares of oil and gas companies continued to climb, adding a further 1.1% amid the escalating tensions in the Middle East.