Asian markets made a mixed closing on Tuesday

Asian equity markets showed a mixed performance on Tuesday, as losses on Wall Street overnight and a decline in oil prices in Asian deals offset hopes that lower inflation figures will give Beijing room to ease monetary policy in the world's second-largest economy. Chinese shares rose notably as trade data released the previous day and today's inflation numbers offered scope for more growth-supportive policies by the Chinese authorities. Reports showed that China's consumer inflation rose 1.8 percent year-over-year in July, in line with expectations and down from 1.9 percent in June. The producer price index dropped 1.7 percent in the month, smaller than June's 2.6 percent decline. Japanese shares ended higher, touching a 2-week peak in thin trade thanks to a wobbly yen. Hong Kong shares ended little changed, taking a breather after hitting eight-month highs the previous session, as fall in IT and utility stocks offset gains in energy and property plays. Markets in Singapore were shut for a holiday.