Wall Street pulled back from its records on Tuesday after the price of crude oil tumbled and technology stocks faltered.

Asian shares advanced on Tuesday after Wall Street rolled to more records, though markets in China were mostly lower. U.S. futures edged higher while oil prices shed more than $2 a barrel. Tokyo's Nikkei 225 index gained 1.

Nvidia stock was falling Tuesday. The chip maker may face more limitations on exports of its advanced artificial intelligence chips. U.S. government officials have discussed capping sales of advanced AI chips from the U.

China shares fell as investors digested much weaker-than-expected export data released late Monday. Japan's market jumped as its semiconductor firms followed Nvidia upward.

Nvidia and other chip stocks sank Tuesday following news of potential US export caps and a dismal earnings report from semiconductor equipment manufacturer ASML.

Drew Bernstein, co-chair of MarcumAsia, explains why Hong Kong is showing signs of strength - which is essential to China's rebound.

Hong Kong is expected to announce measures to boost the city's economy in its annual policy address on Wednesday, including slashing liquor tariffs, as it seeks to revive the financial hub which has been struggling to recover since the pandemic.