Nikkei 225 dropped 0.4 per cent, the broader TOPIX index dropped 0.6 per cent, Hang Seng index edged 0.3 per cent lower, KOSPI slid more than 1 per cent, while S&P/ASX 200 dropped 0.4 per cent

Most Asian stock markets edged lower on Tuesday as investors awaited a series of central bank decisions later this week.

Nikkei 225 dropped 0.4 per cent on Tuesday after soaring more than 2 per cent to a record high of 50,549.60 points in the previous session. The broader TOPIX index dropped 0.6 per cent.

Both Shanghai Shenzhen CSI 300 and the Shanghai Composite were largely unchanged. Hang Seng index edged 0.3 per cent lower.

KOSPI led losses for the day, sliding more than 1 per cent. Data on Tuesday showed South Korea’s third-quarter GDP beat expectations, marking its fastest pace of expansion in more than a year.

S&P/ASX 200 dropped 0.4 per cent, while Straits Times Index gained 0.6 per cent bucking the regional trend.

Futures for Nifty 50 were little changed before market open.

In the U.S., major stock indexes notched record highs overnight, led by tech sector gains. U.S. stock index futures were largely unchanged in Asia hours as of 02:42 GMT.

Meanwhile, U.S. President Donald Trump met Japan’s newly appointed Prime Minister Sanae Takaichi in Tokyo on Monday, where the two discussed defence cooperation, trade, and a $550 billion U.S. investment package announced earlier this year.

The package aims to bolster joint infrastructure, clean energy, and technology projects.

Market sentiment was still underpinned by optimism over China-U.S. trade progress after negotiators in Kuala Lumpur finalized a draft framework to avert new tariffs.

The framework will be reviewed when Trump meets Xi Jinping in South Korea later this week, where the two leaders are expected to finalize details of the deal reached in Malaysia.