Asia markets rise, led by Hong Kong and China; Japan unemployment higher than expected

Shares of embattled property developer China Evergrande continued their slide on Tuesday, after falling nearly 80% on Monday.

Tuesday was the stock's second full day of trading since resuming Monday after 17 months of suspension.

Evergrande shares tumbled 12.86% on Tuesday as of their final hour of trade, standing at 30.5 Hong Kong cents (3.89 U.S. cents) as of 3:36 p.m. Hong Kong time.

— Lim Hui Jie

Weakness in China's yuan may be coming to an end as the economy stabilizes, according to UOB.

"I believe that we may have seen the bulk of the renminbi weakness," Heng Koon How, head of market strategy at UOB told CNBC's "Street Signs Asia."

He noted, however, Chinese banks need to lower their borrowing costs and that the property market is still waiting for more support measures.

— Quek Jie Ann

Tech and industrial stocks powered the Shenzhen Composite to become the best performing index in Asia on Tuesday, with the index up 2.16%.

Battery manufacturer Contemporary Amperex Technology, commonly known as CATL, was the best performing stock by index points in Shenzhen, gaining as much as 5.39%.

Other top performers also include electric vehicle maker BYD as well as distillery Luzhou Laojiao.

— Lim Hui Jie

Toyota has halted operations in 12 assembly plants in Japan as a result of a system glitch, the world's largest automaker said, according to Reuters.

While the cause of the problem has not been identified, it is most likely not from a cyberattack, Toyota's spokesperson said.

Toyota's shares last traded 0.39% lower.

— Reuters, Lee Ying Shan

One global chipmaker has an edge over its competitors, according to an analyst.

It stands out for having lots of cash and a diversified business, Hannah Gooch-Peters of asset management firm Sanlam Investments UK tells CNBC Pro.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Japan's unemployment rate came in at 2.7% for July, higher than the 2.5% in June and also higher than the 2.5% expected by economists polled by Reuters.

The country's jobs-to-applicants ratio fell from 1.3 in June to 1.29 in July to mark the third month of decrease, against economists' forecast for the ratio to remain flat.

— Lim Hui Jie

Analysts at an Asian brokerage and investment group have picked four semiconductor stocks to play the "booming demand" for high-performance chips.

CLST's analysts say there's "booming demand for high-performance chips" and reveal their favorite stocks to buy.

Pro subscribers can read more here.

— Lucy Handley

Monday morning trading offered respite for a handful of beat-down ETFs tracking China.

The KraneShares CSI China Internet ETF (KWEB), iShares China Large-Cap ETF (FXI) and iShares MSCI China ETF (MCHI) all advanced more than 2% on Monday.

Despite the move higher, it's still shaping up to be a difficult August for the group. The KWEB has slid more than 11%, while the FXI and MCHI are both down around 10%.

— Alex Harring, Gina Francolla

Federal Reserve policy rates have likely peaked, according to Seema Shah, Chief Global Strategist, Principal Asset Management. However, the message to be taken from Fed Chair Jerome Powell's Jackson Hole speech is that the central bank still needs to remain alert to inflation pressures.

"As long as economic growth is strong, a resurgence in inflation is a risk," said Shah.

"As such, the first Fed rate cut will likely only come in late 2Q 2024, once job losses have risen and growth has clearly slowed. By next summer, we will be able to determine if Fed Chair Powell could 'navigate by the stars under cloudy skies.'"

— Hakyung Kim

Airline stocks are outperforming on Monday as the stock market attempts to start the week off on the right foot.

The U.S. Global Jets ETF was up about 1% in afternoon trading. Shares of United Airlines rose 1.3%, while Delta Airlines added 1.2%.

The ETF is still down more than 10% year to date.

— Jesse Pound