This is CNBC's live blog covering Asia-Pacific markets.

China stocks fell Tuesday even as broader Asia-Pacific markets rose following gains on Wall Street that saw the Dow Jones Industrial Average and the S&P 500 reach new record highs.

Mainland China's CSI 300 dropped over 2%, while Hong Kong's Hang Seng index tanked more than 4%.

China had posted disappointing September trade data after markets closed Monday, with exports rising 2.4% from a year ago and imports adding 0.3%, both sharply missing expectations.

Revised trade data out of South Korea showed trade surplus at $6.7 billion in September — same as premilinary data — up from $3.7 billion in August.

South Korea's Kospi was up 0.39% to end trading at 2,633.45, while the small-cap Kosdaq gained 0.4% to reach 773.81.

Japan's Nikkei 225 gained 0.77% to close at 39,910.55, while the broad-based Topix rose 0.64% to reach 2,723.57.

Australia's S&P/ASX 200 rose 0.79% to end trading at 8,318.4.

On Wall Street, the broad market S&P climbed 0.77% to 5,859.85, while the 30-stock Dow advanced 201.36 points to 43,065.22, ending the session above the 43,000 mark for the first time.

The Nasdaq Composite added 0.87%, closing at 18,502.69.

— CNBC's Yun Li and Lisa Kailai Han contributed to this report.

China's latest stimulus measures are not enough to merit GDP growth revision: S&P Global Ratings

Beijing's latest stimulus measures are not enough to warrant growth forecast revision, S&P Global Ratings' chief economics of Asia-Pacific Louis Kuijs told CNBC's "Squawk Box Asia."  

The agency has pegged China's next year GDP growth at 4.3%.

"I think the measures have helped reduce the downside risks to growth in China, which is very helpful," Kuijs said, adding, the measures remain insufficient to revise up S&P's 2025 growth prediction.

"I think if we were to see significant fiscal measures for next year and a larger deficit, then we would be looking at revising it up. But we're not yet there," he said. 

— Dylan Butts

Beijing's forward guidance more important to investor confidence than short-term funding: S&P Global

Louis Kuijs S&P Global Ratings says the key focus of investors should be how the Chinese government utilizes existing dry powder.

China is not going to see 'structural reforms,' financial firm Gavekal's Kroeber says

The Chinese government will do the bare minimum to stimulate the economy, Arthur Kroeber, founding partner and head of research at Gavekal told CNBC's "Squawk Box Asia."

"They are doing just enough to support growth at roughly the current level or somewhat higher, but they are not trying to re-accelerate," he said.

"If you're waiting for what we call structural reform, it's not going to come," he added.

— Anniek Bao

Asian semiconductor stocks rally after Nvidia shares hit an all-time high

SINGAPORE — Asian chip stocks jumped on Tuesday after Nvidia closed at a record-high overnight, unseating Microsoft to become the second most valuable company on Wall Street.

Stocks tied to companies that are part of Nvidia's supply chain as well as the broader semiconductor industry rallied as the bullish investor sentiment spilled over.

Shares of SK Hynix rose 2.5%. Taiwan Semiconductor Manufacturing Company and Hon Hai Precision Industry shares jumped about 2% and 2.5%, respectively.

Read the story here.

— By Anniek Bao

Indonesia's September exports miss forecasts

Indonesia's exports grew 6.44% in September from a year ago, missing the 8% growth rate that was expected among analysts polled by Reuters.

The value of exports, $22.08 billion, marked a 5.8% decrease compared to exports in August.

The Bank of Indonesia is currenting holding a two-day review of its monetary policies, expected to be announced Wednesday in the world's forth most populous country.

— Dylan Butts

Japan's Nikkei 225 hits three-month high as trading resumes after holiday

Japan's Nikkei share average hit a three-month high on Tuesday amid a broad rise in Asia-Pacific stocks, with China stocks being the exception.

Following a public holiday on Monday, the Nikkei resumed trading to gain 1.5% at 40, 230, its highest intrad-day level since July 18. 

— Dylan Butts

China may reportedly raise $846.5 billion through treasury bonds to boost economy

China may raise an additional 6 trillion yuan ($846.5 billion) through treasury bonds over three years to as it seeks to boost its economy local media group Caixin Global reported, citing sources with knowledge of the matter. 

The funds raised will partly go toward helping local governments resolve their off-the-book debt, the sources told Caixin.

— Caixin Global, Dylan Butts

Netflix and more: Jefferies names stocks set to benefit from a $60 billion anime boom

The popularity of anime — or animation produced in Japan — has boomed in recent years, and several global entertainment companies are leading in, according to Jefferies.

"Many companies are now positioning anime-related businesses as core to their growth strategies," the investment bank's analysts said in an Oct. 9 equity research note.

Looking ahead, they expect the market to double from $31.2 billion in 2023 to $60.1 billion by 2030, based on estimates from Grand View Research.

CNBC Pro subscribers can click here to read more on three stocks Jefferies expects to benefit.

— Amala Balakrishner

S&P 500 soars to new record close

The S&P 500 notched another record close Monday afternoon.

The broad market index rose 0.77% and finished at 5,859.85. The Dow Jones Industrial Average added 0.47%, or 201.36 points, settling at 43,065.22. The Nasdaq Composite climbed 0.87% and closed at 18,502.69.

— Lisa Kailai Han

Why inflation risks are rising, according to Deutsche Bank

It is still too soon to dismiss rising inflation risks, according to Deutsche Bank macro strategist Henry Allen.

In a Monday note, Allen shared five reasons why he believes inflation risks are still mounting:

1. Major central banks have adopted greater-than-expected levels of near-term monetary easing.
2. Commodity prices have increased on the back of China's stimulus announcements and Middle East tensions.
3. U.S. data is strong and shows the economy will likely avoid a sharper downturn.
4. September's CPI report came in stronger than expected.
5. Money supply growth is accelerating.

— Lisa Kailai Han

Nvidia heads for record close

Nvidia shares rose more than 2%, putting them on track for a record close.

The chipmaker last traded around $137 per share. The stock is still below its intraday all-time high of $140.76, which was set in June 20.

Year to date, shares are up 178%.

— Fred Imbert