Global stocks wavered and oil prices rose on Tuesday, as conflict between Israel and Iran entered its fifth day, while the yen was choppy after the Bank of Japan decided to slow the pace of reduction in its bond purchases from April next year.

Asia stock markets were little changed on Monday, following Friday’s sharp sell-off on Wall Street amid escalating Middle East tensions and global economic concerns. Investors digested a batch of mixed Chinese economic data.

Top on the agenda this week is a host of central bank monetary policy decisions, with the spotlight on the US Federal Reserve.