Australia's S&P/ASX 200 shed 0.3% to 8,300.90, while South Korea's Kospi slipped 0.2% to 2,650.17. Hong Kong's Hang Seng jumped 2.7% to 23,183.02, boosted by a surge in shares of Alibaba, which reported robust financial results.

Hong Kong resumed its tech-led rally on a healthy day for Asian markets Tuesday as a meeting between President Xi Jinping and China's top business leaders fanned hopes that a