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Asian share markets were trading in positive territory on Tuesday as investors became cautiously optimistic the new Omicron variant might not cause a widespread global economic disruption to worsen the coronavirus pandemic.

Indian shares were on course for their first monthly drop in seven even as markets jumped on Friday as investors awaited gross domestic product data that is expected to show the country's economic recovery strengthened in the second quarter.

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Australian shares gained 1% on Tuesday, recovering from sharp losses in the two prior sessions on concerns over the new Omicron coronavirus variant, with banks and miners boosting the benchmark index to its best day since early October.

The following are some of the factors that may move German stocks on Tuesday:

Wall Street stocks closed higher on Monday, regaining some of the ground they lost in Friday's sell-off, as investors were hopeful that the Omicron coronavirus variant would not lead to lockdowns after reassurance from U.S. President Joe Biden.

The Ugandan shilling was stable on Tuesday but projected higher demand for dollars from merchandise importers was expected to keep it under pressure.

Oil prices climbed on Tuesday, extending a rebound from last week's plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant.

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

China's coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.