Asian stock markets are trading higher on Tuesday while the dollar and U.S. bond yields were on the back foot on the prospects of a less-hawkish Federal Reserve policy trajectory.

China's benchmark index, Shanghai Composite rose 3.06 points or 0.09 percent to trade at 3,253.86. Hong Kong's Hang Seng went up 47.83 points or 0.2 percent to trade at 24,549.82.

South Korea's KOSPI gained 21.57 points or 1 percent to trade at 2,178.58. Taiwan's TAIEX rose 43.20 points or 0.44 percent to trade at 9,956.17.

On the other hand, Japan's benchmark index, Nikkei 225 declined 65.03 points or 0.33 percent to trade at 19,456.56. Singapore's Straits Times fell 2.16 points or 0.07 percent to trade at 3,163.54.