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Japan Stocks Rise on Holiday Return as Middle East Talks, US CPI Data Weigh on Sentiment

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Japanese shares edged higher at Tuesday's open following a holiday, though investor caution over a potential Middle East accord kept advances in check ahead of key US inflation data.

The Nikkei 225 added a modest 23 points, or 0.04%, to reach 66,994.05.

Brent crude climbed to about $89, even as Pakistan's defense minister suggested Washington and Tehran were nearing an agreement regarding the Strait of Hormuz.

Market focus now shifts to Wednesday's US consumer price index report, which is forecast to show a moderation in energy-driven price pressures after the initial post-war surge.

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CP Axtra's Profit Declines in Q2

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Update: Austal Gets Up to $1.2 Billion Offer for US Operations From Hanwha Unit; Shares Up 19%

(Updates to add stock movement in the headline and the last paragraph)Australian shipbuilder Austal (ASX:ASB) received a non-binding, conditional proposal from a unit of South Korea's Hanwha Group to acquire its U.S. operations for an indicative enterprise value of up to $1.20 billion.Hanwha Defence USA has offered $1.05 billion to $1.20 billion for the relevant Austal USA entities and operations, according to a Tuesday press release.The proposed deal would cover 100% of the relevant Austal US entities but exclude Austal's publicly traded shares and its core Australasia operations in Australia, the Philippines, and Vietnam.The offer is subject to due diligence, regulatory approvals, and agreement on definitive transaction terms.Austal's board has approved a four-week due diligence period for Hanwha to review the US business and engage with key government and other counterparties.The proposal does not include a financing condition, the statement said.Austal's shares jumped around 19% in recent Tuesday trade.

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