Asian shares retreated on Tuesday, with MSCI’s broadest index of Asia-Pacific shares outside Japan falling 0.5 percent, as the positive momentum in the last couple of days failed to continue.

The pan-European STOXX index fell 0.6 percent on Monday, dragged down by falls in consumer staples stocks.

Wall Street was closed on Monday for a holiday.

In the Middle East, stock markets were mixed on Monday, trading mostly in thin volumes as liquidity was hit with oil prices retreating for most of February, below high levels reached in January.

In Abu Dhabi, the index edged down 0.1 percent, as a dividend cut for Waha Capital made the stock pull back 4.1 percent and weighed on the stock market index.

Dubai’s index edged up 0.2 percent as DAMAC Properties gained 1.8 percent. But courier Aramex, which had surged in the last few days on strong fourth-quarter earnings, pulled back 1.3 percent.

Saudi Arabia's index gained 0.3 percent as telecommunications firm Mobily rebounded 4.9 percent and Saudi Industrial Export jumped its 10 percent daily limit for a fourth day in row.

Qatar's index rose 0.3 percent as Mesaieed Petrochemical jumped 5.0 percent in heavy trading.

Egypt outperformed the region, with its blue-chip index adding 0.8 percent as Commercial International Bank added 1.1 percent and Al Ezz Dekheila Steel surging a further 10 percent.

Kuwait’s index fell 0.2 percent, Bahrain’s index was flat and Oman’s index dropped 0.1 percent.

In commodities, oil prices were mixed early on Tuesday.

U.S. West Texas Intermediate (WTI) crude futures were at $62.16 a barrel at 0153 GMT, up 48 cents, or 0.8 percent, from their last settlement. The higher WTI prices were a result of reduced flows from Canada’s Keystone pipeline.

Brent crude futures were at $65.23 per barrel, down 44 cents, or 0.7 percent, from their last close.

In currencies, the dollar index against a basket of six major currencies was steady early on Tuesday, after pulling ahead from a three-year low the previous day.

The dollar has been weak in recent months, with the positive impact from rising U.S. interest rates offset by growing concerns of other bearish factors, such as an increase in U.S. budget deficit.

Spot gold was down 0.2 percent at $1,343.22 an ounce at 0112 GMT as gold prices slid for a third straight session on Tuesday, while investors waited for the minutes of the latest Federal Reserve meeting for clues on the outlook for U.S. interest rates.

In other news, Egypt’s central bank data showed that average yields on Egypt's three- and seven-year treasury bonds rose at an auction on Monday.

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