Kospi eases 0.4%
Seoul stocks fell on profit-taking after rallying to a six-month closing high on Monday. Weak economic data also weighed on sentiment with August producer prices down 1.3 percent on-year, compared to July's 1 percent loss.
Samsung Electronics slumped nearly 3 percent while LG Display lost 1.3 percent after several brokerages cut earnings forecast for both tech firms on concerns that declines in emerging market currencies would weaken their profitability.
(Read more: Already! Samsung maybe working on new smartwatch)
South Korean markets will be shut from Wednesday for the Thanksgiving holidays and will re-open next Monday.
Australia's S&P ASX 200 index eked out slight gains in the final hour of trade to close at a new five-year high for a second consecutive session.
A dovish tone from the nation's central bank also lifted sentiment. Minutes from the Reserve Bank of Australia's September policy meeting showed it would maintain its easing bias but signaled no urgent need to act.
(Read more: Australia's post-election cheer may prove shortlived)
Gold miners weighed as spot gold traded near a five-week low. Perseus Mining fell 5 percent while Newcrest Mining declined 2.3 percent.
India's benchmark index crawled along the flatline before closing 0.31 percent higher at 19,804 on Tuesday. The rupee weakened 1 percent to 63.46 per dollar, well-off Monday's one-month high of 62.44.
Sentiment was also lower after the nation's headline inflation shot up to a six-month high in August, due to a 245 percent annual rise in onion prices.
— By CNBC.com's Nyshka Chandran. Follow her on Twitter