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

Asia-Pacific markets mostly climbed on Tuesday, tracking gains on Wall Street as investors looked toward a slate of megacap technology earnings to keep propelling the Nasdaq Composite to new heights this week.

Japan's Nikkei 225 added 0.77% and closed at 38,903.68, extending gains from the day before. The Topix advanced 0.91%, ending at 2,682.02.

This comes after the ruling Liberal Democratic Party lost its parliamentary majority after voters cast their ballots on Sunday to determine the control of the lower house, marking the first time since 2009 that Japan's ruling coalition lost its majority.

Japan's jobless rate for the month of September came in at 2.4%, compared to 2.5% the previous month. The reading is also slightly lower than Reuters' forecast of a 2.5% climb.

South Korea's Kospi reversed losses to climb 0.21% to 2,617.8, while the Kosdaq advanced 0.5% to 744.18. Australia's S&P/ASX 200 was 0.34% higher to close at 8,249.2, notching a third straight day of gains.

Hong Kong's Hang Seng Index is up 0.35% as of its final hour, while China's CSI 300 lost 1% to end at 3,924.65.

Overnight in the U.S., stocks jumped. The S&P 500 gained 0.27% to close at 5,823.52. The Dow Jones Industrial Average advanced 273.17 points, or 0.65%, to end at 42,387.57. The Nasdaq rose 0.26%, closing at 18,567.19.

This week marks the busiest in the third-quarter earnings reporting season, and is the final week leading up to the U.S. presidential election on Nov. 5 and the Federal Reserve's policy decision on Nov. 7.

Five of the Magnificent Seven companies — Alphabet, Microsoft, Meta Platforms, Amazon, and Apple — are set to announce their latest financial results this week. Traders will also be eyeing the October jobs report due Friday.

—CNBC's Hakyung Kim and Tanaya Macheel contributed to this report.

HSBC beats third-quarter earnings expectations, announces additional $3 billion share buyback

Europe's largest lender HSBC on Tuesday reported third-quarter earnings that beat analysts' expectations, boosted by strong revenue growth, as it embarks on a major restructuring to balance its operations in China and the West.

HSBC's pre-tax profit rose 10% compared with the $7.7 billion posted a year ago. The company's quarterly revenue grew 5% to $17 billion from the $16.2 billion that was reported a year ago, while after-tax profit gained $500 million from last year to $6.7 billion.

Shares of HSBC traded 2.24% higher.

—Anniek Bao, Lee Ying Shan

BOJ should avoid policy shift, Japan opposition leader Tamaki reportedly says

The Bank of Japan needs to avoid making large changes to its monetary policy, Yuichiro Tamaki, head of the opposition Democratic Party for the People, reportedly said.

Tamaki said that real wage growth was "still at a standstill," to merit big policy changes, Reuters reported.

"Once there is certainty that real wages will exceed 4% at next year's spring wage negotiations, that's when the BOJ can review monetary policy," he said.

Tamaki's comments come ahead of the Bank of Japan's meeting this week, with the BOJ expected to hold rates at 0.25%, according to a Reuters poll of economists.

— Reuters, Lim Hui Jie

Japan's unemployment rate comes in lower than expected

Japan's jobless rate for the month of September came in at 2.4%, compared to 2.5% the month before.

The reading is also slightly lower than Reuters' forecast of a 2.5% climb. The ratio of jobs to applicants climbed to 1.24 from 1.23 in August. Still, that's "well below" the pre-pandemic average of 1.6, according to Moody's Analytics.

"The lackluster domestic economy and weak external demand will likely keep employment conditions soft in the coming months," Moody's analysts wrote.

—Lee Ying Shan

CNBC Pro: Alibaba and more: Fund manager gets bullish on 3 China tech stocks — expecting one to double

Shares of e-commerce giants in China look attractive as Beijing attempts to stimulate domestic consumption, according to investor Jason Hsu.

Hsu, founder and chairman of Rayliant Global Advisors, revealed three of his top picks and one he is more cautious about due to company-specific factors.

Hsu said if signs of consumption growth return to China, one of the stocks could double from current levels.

CNBC Pro subscribers can read more here.

— Ganesh Rao

CNBC Pro: Investing in Japan after the elections? The pros share their take

Japan's stock market rallied on Monday as the Yen plummeted to a three-month low following news that Prime Minister Shigeru Ishiba's ruling coalition had lost a majority in the nation's parliamentary election.

Such a phenomenon raises uncertainties as "we may not know how this new government is going to look like, who the potential coalition partners (are and what the) coalition agreements are going to be," Izumi Devalier, chief Japan economist at Bank of America..

The pros lay out areas of concern - and opportunities they see - in Japan going forward.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

U.S. oil posts biggest loss in two years after Israel spares Iranian crude facilities

U.S. crude oil sold off more than 6% on Monday, for its worst day in more than two years after Iranian energy facilities were not damaged during Israeli strikes over the weekend.

U.S. West Texas Intermediate futures dropped 6.13% to close at $67.38 per barrel for its biggest daily loss since July 12, 2022, when the benchmark shed 7.93%. Futures for global crude benchmark Brent slid 6.09% to settle at $71.42 per barrel.

For weeks, markets had braced themselves for an Israeli retaliation following Iran's ballistic missile attack on Oct. 1. Israel on Saturday attacked Iranian military installations in three provinces

— Spencer Kimball

Historical data bodes well for November

There's many ways to slice the data and be optimistic about November.

November has been the best trading month of the year, on average, for the S&P 500 over the last decade and when looking at every year going back to 1950, according to Carson Group data. It's also been the strongest month historically in election years.

It has also been higher in 11 of the past 12 years.

November's trading month begins on Friday. The S&P 500 is currently slated to finish October with a gain of more than 1%.

— Alex Harring

Crypto stocks jump as bitcoin climbs toward $70,000

Stocks tied to the price of bitcoin jumped on Monday as the flagship cryptocurrency moved above $69,000, after briefly touching the level a week ago.

Crypto exchange operator Coinbase added 4%. Bitcoin price proxy MicroStrategy advanced more than 5%. Both companies are scheduled to report their quarterly earnings on Wednesday. Bitcoin miners Mara Holdings rose 6% and Riot Platforms gained 5%.

Bitcoin has been trying to reclaim the $70,000 level since hitting its record in March above $73,000. Earlier attempts this year have led to brief forays above $70,000, but it has not touched the level since June. Some say that could soon change with the U.S. presidential election drawing nearer.

— Tanaya Macheel