European and Asian stock markets diverged on Tuesday as investors awaited key US inflation data, while concerns about Iran lifted oil prices.
Tokyo closed at a record high, and the yen fell on speculation over a snap election in Japan.
Paris and Frankfurt were in the red, nearing the halfway mark, while London was flat.
Wall Street finished at another record high Monday, as investors shrugged off worries about a US criminal probe of the Federal Reserve central bank.
The heads of major central banks have thrown their support behind the US Fed and its chairman Jerome Powell, saying in a joint statement Tuesday that it was "critical to preserve" their independence.
On Sunday, Powell aimed escalating pressure from President Donald Trump's administration to lower interest rates.
Investors were treading water ahead of the release of US inflation data later in the day.
"This is by far the most important metric for the Fed," said Kathleen Brooks, research director at XTB trading group.
"Today's data is expected to reset inflation expectations and be a clear indicator of what the Fed should do this year and how many rate cuts to expect," she added.
In Asia, Tokyo's Nikkei closed up 3.1 per cent, driven by anticipation that Prime Minister Sanae Takaichi will capitalise on strong poll numbers by calling an election.
Takaichi was appointed Japan's first woman prime minister in October and her cabinet is enjoying an approval rating of around 70 percent.
But her ruling bloc has only a slim majority in parliament's powerful lower house, hindering her ambitious policy agenda.
Hong Kong also gained, while Shanghai closed lower.
Seoul climbed 1.5 per cent after South Korean chip giant SK hynix said it would spend 19 trillion won ($12.9 billion) building an advanced chip packaging plant, as the firm rides the global AI boom.
Oil prices rose after US President Donald Trump announced a 25-per cent tariff on any country trading with Iran, ramping up pressure on Tehran and its friends over its violent crackdown on a wave of protests.
Trump said in a social media post on Monday that the new levies would "immediately" hit the Islamic Republic's trading partners, who also do business with the United States.
The move "is likely to hit its biggest trading partners like China", said Victoria Scholar, head of investment at Interactive Investor.
In other company news, shares in Danish renewable energy firm Orsted climbed five per cent after a US judge cleared the way for its offshore wind project to resume work in New England, nullifying a Trump administration order pausing the project.
Key Figures At Around 1100 GMT
London - FTSE 100: FLAT at 10,144.11 points
Paris - CAC 40: DOWN 0.5 per cent at 8,316.16
Frankfurt - DAX: DOWN 0.1 per cent at 25,368.69
Hong Kong - Hang Seng Index: UP 0.9 per cent at 26,848.47 (close)
Shanghai - Composite: DOWN 0.6 per cent at 4,138.76 (close)
Tokyo - Nikkei 225: UP 3.1 per cent at 53,549.16 (close)
New York - Dow: UP 0.2 per cent at 49,590.20 (close)
Euro/dollar: UP at $1.1667 from $1.1666 on Monday
Pound/dollar: UP at $1.3471 from $1.3466
Dollar/yen: UP at 158.89 yen from 158.17 yen
Euro/pound: DOWN at 86.62 pence from 86.63 pence
Brent North Sea Crude: UP 1.2 per cent at $64.65 per barrel
West Texas Intermediate: UP 1.3 per cent at $60.28 per barrel
