This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets rose Tuesday, tracking gains on Wall Street after the S&P 500 and the Nasdaq Composite rose to new records overnight.

Japan's Nikkei 225 traded 2.22% higher, and the Topix added 1.71%.

South Korea's Kospi was up 1.71% while the Kosdaq advanced 2.03%. South Korea's inflation rate climbed in November to 1.5% year on year, higher than October's inflation reading of 1.3%, and lower than the 1.7% expected by economists polled by Reuters.

Hong Kong's Hang Seng Index gained 0.65% in its final hour of trade, and mainland China's CSI 300 was up 0.11% to close at 3,951.89.

Australia's S&P/ASX 200 rose 0.56% to close at 8,495.2.

Traders are preparing for a wave of economic reports and comments from Federal Reserve officials that will influence the future direction of interest rates.

Overnight in the U.S., the S&P 500 added 0.24% to close at 6,047.15. The Nasdaq Composite added 0.97% and ended at 19,403.95. Both indexes touched fresh all-time intraday highs and closed at record levels.

The Dow Jones Industrial Average lost 0.29%, or 128.65 points, closing at 44,782.00. The blue-chip index briefly topped the 45,000 level during the day, a key threshold it hit a few times last week.

Traders will be monitoring the the U.S. November payrolls report, due Friday, which could provide insights into the strength of the labor market ahead of the Federal Reserve's policy meeting on Dec. 17-18.

—CNBC's Alex Harring and Lisa Kailai Han contributed to this report.

Asian chip stocks mostly rise, shrugging off new U.S. semiconductor export curbs on China

Major Asian chip stocks outside of China rose Tuesday, shrugging off a new round of U.S. semiconductor export curbs on Beijing aimed at impairing the country's capability to produce certain high-end chips.  

Taiwan Semiconductor Manufacturing Company — the world's largest contract chip supplier — saw shares rise 2.42%.

Several Japanese chip-related stocks also gained. Tokyo Electron rose 4.7%, Lasertec climbed 6.7%, Advantest gained 3.9% and Renesas Electron advanced 2.2%.

Japanese technology conglomerate Softbank, which owns a stake in British chip designer Arm, saw its shares rise 3.6%.

Read the full story here.

—Dylan Butts

Chinese yuan weakens past 7.3 against the dollar for first time since July 3

The offshore yuan was trading at 7.29 against the greenback Tuesday morning local time, weakening past 7.3 for the first time since July 3, LSEG data showed. The yuan has lost more than 2% since the U.S. presidential election on Nov. 5.

On Monday, Capital Economics' head of China economics Julian Evans-Pritchard told CNBC's "Street Signs" that the yuan could fall further to 8 against the greenback by the end of 2025.

South Korea’s inflation climbs in November, but misses expectations

South Korea's inflation rate climbed in November to 1.5% year on year, from a 45-month low in October, as the country grapples with a weakening Korean won and slowing exports.

The figure was higher than October's inflation reading of 1.3%, and lower than the 1.7% expected by economists polled by Reuters.

Last Thursday, South Korea's central bank unexpectedly cut rates by 25 basis points to 3%, marking the first time that the Bank of Korea had enacted two back-to-back cuts since 2009.

Read the full story here.

CNBC Pro: Buy this Canadian dividend growth stock with a 5% yield, Scotiabank says

One of Canada's large financial holding companies appears to be an attractive dividend investment opportunity, according to Scotiabank analysts.

The investment bank believes the value of the dividend growth is "not reflected" in the stock price and is "underappreciated" by the market.

The stock is currently offering investors 5% dividend yield.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Goldman Sachs just refreshed its conviction lists of global stocks, giving 3 over 40% upside

Goldman Sachs has refreshed its lists of top global stock picks for December by adding some and removing others.

The stocks are featured in the investment bank's "Conviction List - Directors' Cut," which boasts a "curated and active" list of buy-rated stocks.

There have also been plenty of additions to the Directors' Cut, including the following three stocks which Goldman gives more than 40% upside potential over the next 12 months.

CNBC Pro subscribers can read the full story here.

— Amala Balakrishner

S&P 500, Nasdaq Composite close at new record highs

The S&P 500 and Nasdaq Composite both closed at new records on Monday.

The broad market benchmark added 0.24% to settle at 6,047.15. The Nasdaq Composite gained 0.97%, finishing at 19,403.95. On the other hand, the blue-chip Dow Jones Industrial Average lost 128.65 points, or 0.29%, to close at 44,782.00.

— Lisa Kailai Han

December trends point to a strong end to the year

According to Canaccord Genuity, historical December market gains imply stocks can finish the year on a sweet note.

When analyzing 11 prior periods during which the S&P 500 rallied 20% or more in the first 11 months of the year, December's performance improved slightly compared to the all-years median, according to analyst Michael Welch.

"Strength begets strength," Welch wrote in a Monday note.

"After 20%+ gains, the median December performance improved by 63 basis points to 1.96%, and the positivity rate improved to 78.6% from 73.1%," Welch added.

— Hakyung Kim