Japan's benchmark stock index closed higher on Tuesday after three days of extreme volatility. The Nikkei managed to stabilize after a shaky morning session, which saw the index zigzag between gains and losses after shedding 1 percent at the open.
"There still seems to be a large amount of confusion in the market on whether the Bank of Japan is trying to engineer lower yields through its bond-buying program, or higher yields, or create negative real bond yields. It seems that until this point is made clear, then confusion will hold the equity market back from resuming its trend," said Chris Weston, market strategist at IG in a note.
Australia's S&P ASX 200 and Seoul's Kospi closed flat as investors awaited direction from U.S and U.K markets when they resume trade on Tuesday after being shut for public holidays. Meanwhile, the Shanghai Composite hit a two-month high.