Asian shares rose on Tuesday and the yen remained well off recent highs as the threat of immediate military conflict in Ukraine receded, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan added about 0.4 percent. Japan's Nikkei stock average ended up 0.9 percent, recovering from a six-week closing low hit on Monday. Short-covering was likely behind some of Tokyo's gains, as the ratio of short-selling to overall sales in the Tokyo Stock Exchange hit a record high of 36.17 percent the previous day. The dollar's gains against the yen unravelled in late Asian trading, and it edged down 0.1 percent to 101.63 yen, while the euro also slightly declined to 141.59 yen. U.S. crude edged down slightly to $98.04 a barrel, after falling on Monday, as expectations of growing petroleum stockpiles in the world's biggest oil user duelled with fears that Ukraine tensions could worsen again.
