Equities in Shanghai and Tokyo were the star performers in Asia on Tuesday, drawing support from the new records on the Dow Jones Industrial Average and S&P 500 overnight, as well as a flurry of economic reform news out of Beijing.
However, risks of a Greek default remained on the radar of investors after Athens said on Monday it needed a debt deal by the end of the month or it could default.
"That is something to be worried about. If Greece does default and exit the euro zone, that is clearly going to rattle the markets," OCBC Group Wealth Management's vice president Vasu Menon told CNBC's "The Rundown" on Tuesday. "But with Greece being just 2 percent of the euro zone economy and exposure of European banks to Greek government debt being minimal, I think [the impact from] Greece is going to be ring fenced."
Overnight, the blue-chip Dow set a record for the fifth time in 2015, closing above its previous closing and intra-day high of 18,288.63. The S&P 500 closed at a record for the third day in a row, its ninth for the year. Helped by a rally in Apple, the Nasdaq Composite ended up 0.6 percent.
Analysts cited expectations the Federal Reserve would delay increasing interest rates after comments from Chicago Fed President Charles Evans suggested the central bank may stay on hold until next year.