China's Shanghai Composite index dips 0.51%

Asian stocks turned in a mixed performance on Tuesday amid global political turmoil and ahead of key U.S. inflation readings due this week that could influence the Federal Reserve's rate trajectory.

Amid growing concerns over a softening U.S. labor market, traders currently expect almost three Fed cuts this year, starting this month.

China's Shanghai Composite index dipped 0.51 percent to 3,807.29, a day after data showed China's export growth slowed to the weakest in six months. Chipmaking giant SMIC plummeted 10.3 percent after an acquisition deal.

Hong Kong's Hang Seng index jumped 1.19 percent to 25,938.13, hitting a four-year high after the Nasdaq notched a record-high close overnight on Fed rate-cut hopes.

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