Asian indices outside Hong Kong advanced on Tuesday to hit new highs, but traders treaded cautiously ahead of Federal Reserve Chair Janet Yellen's two-day testimony before Congress, which could give clues on the possible timeline of a rate hike in the U.S.
Meanwhile, markets kept an eye on developments in Greece's bailout extension as Athens delayed the submission of its economic reform proposals until Tuesday.
Overnight, U.S. stocks pulled back from Friday's records to close narrowly mixed on the back of weakness in oil prices. The Dow Jones Industrial Average and the S&P 500 settled slightly below the flatline, while the tech-heavy Nasdaq closed up 0.1 percent as Apple closed at another all-time high.
China markets remained shut for the Chinese New Year holiday and will reopen tomorrow.