South Korea PPI, Hyundai India IPO

Asia-Pacific markets fell on Tuesday, underperforming a mixed session on Wall Street.

When it comes to economic data from Asian countries, investors saw a bright spot. Meanwhile, Hyundai Motor India made its stock market debut after a record IPO.

The shares were trading at Rs 1,860 less than their initial public offering price of Rs 1,960, according to BSE data. The automaker had offered 142.19 million shares at a price range of 1,865 Indian rupees ($22.18) to 1,960 rupees. The IPO raised 278.56 billion rupees, or $3.3 billion.

Australia S&P/ASX 200 fell 1.36%, while South Korea’s Kospi slipped 1.21% and its small-cap Kosdaq lost 2.11%.

Japan’s benchmark Nikkei 225 fell 1.34%, while the broad-based Topix was down 1.04%.

The Hang Seng index in Hong Kong hovered near zero, while the CSI 300 in mainland China fell 0.13%.

During the US trading session, two Federal Reserve officials discussed interest rate trends.

Minneapolis Fed President Neel Kashkari cited the robust U.S. economy and strong labor market and said the longer-term trajectory of interest rates could be higher than in the past.

Dallas Federal Reserve President Lorie Logan said she supports the current move to cut interest rates, but a patient approach is needed.

Overnight, U.S. stocks ended mixed as Treasury yields rose and investors awaited new earnings reports.

The S&P 500 slipped 0.18% and the 30-stock Dow lost 0.8%, snapping a three-day streak of gains. The Nasdaq Composite was the outlier, rising 0.27%.

— CNBC’s Pia Singh and Sarah Min contributed to this report.