In overnight trade, several currency data providers including Google showed that the yuan tumbled to as low as 7.49 against the dollar. The sharp devaluation of the yuan which would have been a 8.8 percent rise of the currency pair from the onshore close of 6.883. Google confirmed that the figure was a bug and that it was fixing it.
The People's Bank of China (PBOC) set the yuan midpoint at 6.8575 against the dollar on Tuesday, suggesting a stronger yuan compared with a fix of 6.887 on Monday.
The yuan was trading at 6.8772 against the greenback as of 3:00 pm HK/SIN.
"Sentiment [in Asia] took a positive tone from the higher euro overnight, there was a consensus view that a 'no' vote from Italy could bring further distress to the European Union, but the higher euro shows investors do not see this as a concern," Matt Simpson, senior market analyst at ThinkMarkets, said to CNBC.
On the currency front, the euro was trading at 1.0738 against the dollar as of 3:00 pm HK/SIN. The pair had fallen to a 20-month low of $1.0503 on Monday.
Global investors had shaken off the Italian referendum results, and shares had risen higher on Monday.
Major U.S. indexes closed higher with the Dow Jones industrial average up 0.24 percent at 19,216.24, the S&P 500 gained 0.58 percent at 2,204.71 and the Nasdaq composite ended 1.01 percent higher at 5,308.89.
Major European stocks had also finished higher after the referendum rejection, with the pan-European Stoxx 600 ended 0.56 higher, with almost all sectors in the green.