Colorful old shophouses on Cross Street in Chinatown.
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Asia-Pacific markets opened mostly higher on Tuesday after overnight volatility in the United States as investors braced for key inflation data.
The S&P 500 closed flat at 5,344.39, while the tech-heavy Nasdaq Composite Index rose 0.21% to close at 16,780.61, led by a 4% surge in Nvidia shares, while the Dow Jones Industrial Average fell 140 points, or 0.36%, to close at 39,357.01.
Traders are awaiting the release of July's Consumer Price Index, a key indicator of the health of the U.S. economy, on Wednesday. Investors will analyze the data for signs that the Federal Reserve might start cutting interest rates in September.
In Asia, Japan's CGPI rose 3% year-on-year in July, faster than the 2.9% increase in June, as expected. The CGPI measures price changes in goods traded within the corporate sector.
Singapore said its economy grew 2.9 percent year-on-year in the second quarter, in line with flash gross domestic product (GDP) figures released in July. The Ministry of Trade and Industry pointed to strength in the wholesale trade, finance and insurance, and information and communications sectors. The country also forecast GDP growth of 2 percent to 3 percent in 2024, higher than its previous forecast of 1 percent to 3 percent.
Japan's Nikkei stock average opened up 2.2%, while the Topix rose 1.8%.
South Korea's KOSPI followed suit, rising 0.36%, while the small-cap KOSDAQ fell 0.6%.
Australia's S&P/ASX 200 opened slightly higher.
Hong Kong Hang Seng Index futures were at 17,144, slightly above the HSI's last close of 17,111.65.
—CNBC's Brian Evans and Tanaya Maciel contributed to this report.
