Japan’s core inflation rate rose to a 16-month high at 3% in December, year on year, boosting the case for a rate hike from the Bank of Japan.

Asian shares traded mixed Tuesday, echoing Wall Street trading, where gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies. Japan's benchmark Nikkei 225 slipped 1.

Asian shares have advanced after U.S. stocks rose to a record and the Bank of Japan raised its key lending rate