Asia-Pacific markets traded mixed Tuesday as investors digested China's central bank decision to cut its one-year and five-year loan prime rate by 10 basis points each to 3.55% and 4.20%, respectively. The move comes after the People's Bank of China cut some of its key lending rates last week.
Mainland Chinese markets were mixed following the announcement, with the Shanghai Composite down 0.47% to end at 3,240.46, its second-straight day of losses. In contrast, the Shenzhen Component rebounded from its Monday loss and was up 0.28%, closing at 11,305.35.
Hong Kong's Hang Seng index slid 1.57%, dragged by health-care and technology stocks.
In Australia, the S&P/ASX 200 climbed 0.86% and closed at 7,357, leading gains in the region and marking a seven day winning streak.
In Japan, the Nikkei 225 reversed earlier losses and ended the day marginally up at 33,388.91, while the Topix lost 0.29% to close at 2,283.85.
South Korea's Kospi also continued its slide from Monday, falling 0.18% and ending at 2,604.91, along with the Kosdaq which saw a 0.22% loss and ended at 886.41.
U.S. markets were closed for the Juneteenth holiday on Monday, but stock futures started the week lower as investors looked ahead to a holiday-shortened week of trading.
Futures tied to the Dow Jones Industrial Average slipped 0.26%, while S&P 500 futures pulled back 0.16%. Nasdaq 100 futures declined 0.15%.
— CNBC's Brian Evans contributed to this report