SINGAPORE: Asian stocks rose on Tuesday while the dollar firmed, keeping the yen rooted near the 152-per-dollar level that has traders worried about possible intervention, as expectations the Federal Reserve was close to cutting interest rates faded.
Data on Monday showed U.S. manufacturing grew for the first time in 1-1/2 years in March as production rebounded sharply and new orders increased, highlighting the strength of the economy and casting doubts on the timing of Fed rate cuts.
