Asian stocks endured volatile trading on Tuesday, particularly in China where the Shanghai Composite index lurched violently higher in the final minutes of trade following the approval of railway projects worth nearly 70 billion yuan ($11 billion) by the country's top economic planner.
Meanwhile, other regional bourses put up a mixed performance due to global growth woes, with Japan's Nikkei 225 index losing year-to-date gains, as China's August trade data paint a grim picture of the economic health of the world's second-biggest economy.
The mainland's dollar-denominated exports declined by 5.5 percent year-on-year in August, while imports slid 13.8 percent, producing a trade surplus of $60.24 billion.
Stoking concerns further, Japan's revised gross domestic product (GDP) for the second quarter shrank an annualized 1.2 percent. While the data came in better than the initial estimate of a 1.6 percent contraction, some analysts remain unimpressed.
"It doesn't change the fact that Japan's economy shrunk despite no hurricane or big economic issues. Japan's economy is still very fragile," Takubi Okubo, principal and chief economist at Japan Macro Advisors, told CNBC.
Wall Street was closed Monday for the Labor Day holiday, but index futures moved higher, suggesting a rise in the U.S. equity markets when trading resumes on Tuesday.