Live news: Oil prices rise after Saudi Arabia and Russia announce production cuts

Australia: The Reserve Bank of Australia will announce its cash rate target. Economists are split over whether the central bank will raise the cash rate to 4.35 per cent or pause, according to a Reuters poll.

Thailand: Parliament is expected to choose a House speaker. Progressive opposition party Move Forward and the biggest partner in its coalition, the Pheu Thai party, have wrangled over which will get the important position.

Shanghai Cooperation Organisation: India hosts an online meeting of the group, which consists of China, India, Russia, Pakistan and four central Asian countries.

Markets: Futures in Japan and Hong Kong pointed lower on Tuesday morning. Wall Street stocks edged higher on Monday as fresh data capped the rally in tech stocks such as Tesla and renewed investors’ concerns over US economic growth. The S&P 500 closed up 0.1 per cent. The Nasdaq Composite rose 0.2 per cent.