Asian Shares Retreat, Australia Central Bank Cuts Rate To All-Time Low

Asian shares slipped on Tuesday, taking their cues from a modestly lower day on Wall Street, while crude oil prices stabilized after their overnight tumble and the U.S. dollar edged higher.

European markets are set to open flat to slightly lower, with financial spreadbetter CMC Markets expecting Britain's FTSE 100 and France's CAC 40 to open 0.1 percent lower and Germany's DAX to start the day flat.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 percent, after the S&P 500 ended Monday 0.1 percent lower, despite hitting an intraday record high.