Asian equity markets were mostly higher on Tuesday as geopolitical concerns in eastern Ukraine and the Gaza strip eased following new developments overnight.
News of a breakthrough in negotiations over the developments at the downed Malaysia Airlines crash site helped to stabilize sentiment. Rebel leaders handed over two black boxes to Malaysian experts in Donetsk who confirmed they were in good condition. Focus now turns to a meeting of euro zone foreign ministers on Tuesday to discuss further sanctions against Russia.
Hopes for a ceasefire in Gaza are also in focus after U.S. Secretary of State John Kerry and United Nations chief Ban Ki Moon arrived in Cairo for talks aimed at stopping the bloodshed.
Nikkei 0.6% higher
Following Monday''s public holiday Japanese shares played catch up, with the benchmark Nikkei moved off Friday''s one-week low ahead of key earnings later this week from the likes of Canon, Advantest, Fanuc, and NTT DoCoMo.
Panasonic jumped 1.5 percent following news on Monday that it has reached a basic agreement to sell its cellphone base station business to Finland''s Nokia.
ASX flat
Australia''s benchmark S&P ASX 200 index opened little changed from Monday''s close, snapping three straight sessions of gains.
Gold miners led the declines despite bullion prices rising above $1,300 an ounce overnight. Newcrest Mining, Evolution Mining and Kingsgate Consolidated fell over 1 percent each.
Kospi up 0.1%
South Korean shares rose after the country''s finance minister promised on Tuesday to use more expansionary and aggressive monetary policy to boost growth.
Hyundai Motor rallied over 1 percent after its sales in the U.S. topped 9 million for the first time
On Monday, the benchmark Kospi briefly touched its highest levels since December.
Emerging markets in focus
Indonesian markets will be closely watched with the results of the county''s presidential election widely expected sometime on Tuesday.