Asian stocks ended mixed in cautious trade on Tuesday, with Japanese markets closed for a holiday.

Amid a lack of any breakthrough in West Asia talks and protracted uncertainty over the global inflation outlook, investors braced for key US inflation readings due this week for direction.

The US dollar was largely subdued in Asian trade while Brent crude futures climbed above $89 a barrel amid fading hopes for a deal between Washington and Tehran to reopen the Strait of Hormuz, a critical waterway for global energy supplies.

Gold dipped to $4,363 an ounce after two consecutive sessions of gains on receding Fed hike bets and reports suggesting that China's central bank stepped up gold purchases in July.

China's Shanghai Composite index fell 0.82% to 3,934.09 as concerns over stalled US-Iran talks overshadowed Guoyi's strong market debut. Hong Kong's Hang Seng index ended 1.10% lower at 25,652.82.

Seoul stocks ended higher for a second straight session as major chip heavyweights rose on bargain hunting. The Kospi index climbed 0.73% to 6,345.53. Semiconductor heavyweight Samsung Electronics surged 4.1%.

Australian markets ended slightly higher as the Reserve Bank of Australia left interest rates unchanged for a second consecutive meeting in a unanimous decision but left the door open for further rate hikes if inflation risks increase.

The benchmark S&P/ASX 200 edged up by 0.19% to 9,250.60, led by gains in commodity-linked stocks. The broader All Ordinaries index closed up 0.21% at 9,443.70.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index slipped 0.20% to 13,860.66 amid uncertainty over the National Party leadership and the US-Iran stalemate.