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The indices are trading higher amid the US-North Korea summit in Singapore.

Investors remained hopeful of a positive outcome from a highly anticipated US-Korea summit, which could set the stage for ending a nuclear stand-off on the Korean peninsula.

Ahead of the summit, Trump said the meeting could “work out very nicely” as the countries try to narrow differences on how to end a nuclear standoff on the Korean peninsula. Tuesday’s North Korea summit will be followed by policy meetings of the US Federal Reserve, which is expected to raise rates.

Back home, investors will await domestic macro data like IIP and CPI, due later in the day today. India’s retail inflation jumped further in May to a four-month high, primarily driven by a surge in energy prices, according to a Reuters poll of economists, suggesting more policy tightening from the central bank is coming.

The poll of more than 30 economists taken 4-8 June showed annual consumer price inflation likely increased to 4.83% last month, the highest since January and above April’s 4.58%.

In global markets, dollar jumped to a 3-week top on Tuesday while Asian shares started the day cautiously. Japan's Nikkei climbed 0.8 per cent to the highest in three weeks and South Korean shares added 0.1 per cent.

That left MSCI’s broadest index of Asia-Pacific shares outside Japan a touch softer at 573.31.

Last modified on Tuesday, 12 June 2018

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