Asia-Pacific markets slipped on Tuesday, trailing a mixed session on Wall Street.

Investors saw a light day in terms of economic data out of Asian countries. Meanwhile, Hyundai Motor India made its trading debut after a record IPO.

Shares were trading down at 1,860 rupees from their initial public offering price of 1,960 rupees, according to BSE data. The automaker had offered 142.19 million shares at a price band of 1,865 Indian rupees ($22.18) to 1,960 rupees. The IPO fetched 278.56 billion rupees, or $3.3 billion.

Australia’s S&P/ASX 200 was down 1.66% to close at 8,205.7, its lowest level in almost 2 weeks, while South Korea’s Kospi slipped 1.28% and its small cap Kosdaq lost 2.68%.

Japan’s benchmark Nikkei 225 fell 1.39% to 38,411.96, while the broad based Topix was trading down 1.06% at 2,651.47.

Hong Kong’s Hang Seng index was close to the flatline, while the mainland Chinese CSI 300 inched down 0.21%.

During the U.S. trading session, two Federal Reserve officials had spoken about the trajectory of interest rates.

Minneapolis Fed President Neel Kashkari, noting the U.S.’ resilient economy and strong labor market, said the longer term trajectory for interest rates could be higher than it has in the past.

Dallas Federal Reserve President Lorie Logan said she supports the current move to lowering interest rates, but that a patient approach will be needed.

Overnight in the 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%, and snapped a three-day run of winning sessions. The Nasdaq Composite was the outlier, rising 0.27%.

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

Asian chip stocks rose on Tuesday after Nvidia closed at a record high overnight as the chip company continues to ride the massive artificial intelligence wave.

Stocks tied to Nvidia suppliers as well as other chip companies advanced as the bullish investor sentiment spilled over. Shares of South Korean chipmaker SK Hynix, which manufacturers high bandwidth memory chips for AI applications, for Nvidia surged 2.5%.

Samsung Electronics, which is expected to be manufacturing HBM chips for some Nvidia products, saw its shares rise 0.5%.

Shares of Taiwan Semiconductor Manufacturing Company and Hon Hai Precision Industry — known internationally as Foxconn — which are part of the Nvidia supply chain, jumped about 2% and 2.5%, respectively.

Japanese semiconductor manufacturing firm Tokyo Electron surged 5%, testing equipment supplier Advantest gained 3.6% and Renesas Electronics rose over 4%.

Japanese technology conglomerate SoftBank Group, which owns a stake in chip designer Arm, jumped as much as 6.4%.

SINGAPORE — Chinese markets skyrocketed over 10% at the open Tuesday, after coming back from the Golden Week holiday as the rally from Beijing’s stimulus measures continued.

The CSI 300 index was up 10.2% in early deals, before paring some gains to record a rise of about 7.5%, but Hong Kong’s Hang Seng index plummeted over 6%.

Other Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data out from Japan.

Household spending in Japan fell 1.9% year-on-year in August in real terms, a softer fall compared to the 2.6% decline expected by a Reuters poll of economists.

The drop is the fastest pace of decline since January, which saw a 6.3% fall year-on-year. That decline also came before spring wage negotiations delivered the largest pay hikes to unionized Japanese workers in 33 years.

However, real wages rose in August, with data from the country’s statistics bureau indicating that wages climbed 2% to an average of 574,334 yen ($3,877.44).

Overnight in the U.S., stocks slid as rising oil prices and higher Treasury yields weighed on market sentiment.

The Dow Jones Industrial Average dropped 0.94%, while the S&P 500 slid 0.96%. The Nasdaq Composite  saw the largest loss, falling 1.18%.

The benchmark 10-year Treasury yield rose to 4.02%, marking the first time since August that the yield topped 4%.

Oil prices also rose as tensions in the Middle East remain high. U.S. crude climbed more than 3% to settle above $77 per barrel.

— CNBC’s Lisa Kailai Han and Jesse Pound contributed to this report.