Asia stocks rise ahead of US inflation data; yen stumbles

Asian shares inched up on Tuesday in cautious trading ahead of a crucial U.S. inflation report that could heavily influence the Federal Reserve's policy outlook, while the fragile yen flirted with one-year lows, putting it back in the intervention zone.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.49% higher, while Tokyo's Nikkei (.N225) gained 0.36%. Australia's S&P/ASX 200 index (.AXJO) was up 0.61%.

The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday. If the battered currency breaks below…