Stocks in Japan bounced back partially on Tuesday after the previous day's heavy losses as concerns over the global economy weighed on investor sentiment.
Following its Monday tumble, the Nikkei 225 rose 2.15 percent to close at 21,428.39, with shares of robot maker and index heavyweight Fanuc gaining 1.70 percent. The Topix index also added 2.57 percent to end its trading day at 1,617.94..
MSCI's broadest index of Asia-Pacific shares outside Japan was fractionally higher at 522.41 as of 3:17 p.m. HK/SIN.
Mainland Chinese shares closed lower, with the Shanghai composite slipping 1.51 percent to 2,997.10 and the Shenzhen component declining 1.94 percent to 9,513.00. The Shenzhen composite declined 2.176 percent to 1,639.94.
In Hong Kong, the Hang Seng index slipped 0.19 percent in its final hour of trading.
Meanwhile, shares in Australia rose as the ASX 200 rose fractionally to close at 6,130.60.
Stocks of Australian conglomerate Wesfarmers dropped 3.51 percent after the company announced a bid for embattled rare earths miner Lynas, whose own stock was earlier placed on a trading halt. For its part, Lynas shares skyrocketed 35.05 percent on the day following its return to trade.
The developments came as Lynas' shares have dragged along near 18-month lows as it faces hurdles over environmental license in Malaysia where its chemicals plant is located, according to Reuters.
"Share markets are due a correction or pullback after rallying strongly since their December lows and worries about inverted yields curves and the growth outlook could provide the trigger," Shane Oliver, head of investment strategy and chief economist at AMP Capital, said in a note.
Oliver did add, however, that "US and global recession still looks to be a fair way off and we continue to see this being a reasonably good year for shares."