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

Hong Kong stocks led gains in Asia-Pacific markets Tuesday ahead of the final U.S. Federal Reserve meeting of the year.

The Fed's two-day meeting kicks off Tuesday, and the U.S. central bank is expected to maintain the Federal Funds rate steady in the 5.25%-5.5% range.

Producer prices in Japan{

Japan's producer prices rise faster than expected in November

Producer prices in Japan rose at a faster-than-expected pace in November, notching a 0.3% gain year-on-year compared with the 0.1% rise forecast by economists polled by Reuters.

The 0.3% rise in the corporate price goods index was lower than October's revised figure of 0.9%, and the slowest rate of growth recorded since February 2021.

The CGPI measures the prices of goods and services traded in the corporate sector.

On a month-on-month basis, producer prices climbed 0.2%, reversing from a 0.3% fall in October.

— Lim Hui Jie

The Japanese yen showed some strength against the dollar, trading about 0.1% higher at 146.04 as investors will be keenly watching the impact of the Fed's decision on the dollar/yen pair.

Market players will also assess the U.S. November inflation figures out late Tuesday, which are expected to come in at 3.1%, according to a Reuters poll. This figure is slightly lower than the 3.2% seen in October.

Hong Kong's Hang Seng index rebounded off a one-year low to close up 1.1%, while the mainland Chinese CSI 300 index finished up 0.2% at 3,426.8.

In Australia, the S&P/ASX 200 rose 0.5%, closing at 7,235.3 and hitting its highest level since September 15.

Japan's Nikkei 225 closed 0.2% higher at 32,843.7, after advancing 1.6% in the previous session. The broader Topix, however, shed 0.2% to finished at about 2,353.2.

South Korea's Kospi climbed 0.4% to 2,535.3, while the smaller Kosdaq gained 0.5% to end at 839.5. Both the indexes notched three straight days of gains.

Overnight in the U.S., all three major indexes advanced, with the Dow Jones Industrial Average recording its third straight day of gains.

The Dow advanced 0.43% to close at its highest since January 2022, while the S&P500 rose 0.39% and the Nasdaq Composite added 0.20%.

— CNBC's Brian Evans and Pia Singh contributed to this report

Mastercard Economics Institute expects inflation to cool in 2024

Inflationary pressures are expected to cool in 2024, as global inflation moderates to 4.9% year-over-year from 6.0% in 2023, a report by Mastercard Economics Institute showed.

Most countries are coming out of a "very disorientating type of economy that we were stuck with for a while, where you had big swings in inflation, in interest rates, [and] migration flows for certain economies," MEI's David Mann told CNBC's "Squawk Box Asia."

He added that "we're still finishing off that tail end of the bungee jump" following the Covid-19 pandemic, and expects calmer inflation and slightly higher wage growth next year — potentially leading to real wage growth.

MEI noted in their report that the global economy will feel "more normal" in 2024, but consumers are likely to remain cautious of spending.

Mann also highlighted that international travel is only about 55% recovered. But entering 2024, countries like China and Japan have the potential to see greater momentum in outbound travels, as China reopens and tourists take advantage of a weaker yen, he explained.

— Quek Jie Ann

India's Nifty 50 hits record high

India's Nifty 50 index rose 0.2% to 21,023.05, hitting yet another record high.

The index has set many new all-time highs in 2023 and has jumped 16% so far this year. It is also headed for its eighth straight year of gains.

The value of India's stock market overtook that of Hong Kong's to become the seventh largest in the world as optimism about the country's economic prospects grow.

As of the end of November, the total market capitalization of the National Stock Exchange of India was $3.989 trillion versus Hong Kong's $3.984 trillion, according to data from the World Federation of Exchanges.

— Shreyashi Sanyal

Philippine exports decline at their fastest pace in six months, trade deficit widens

Philippine exports plunged 17.6% year-on-year in October, deepening from the 6.3% fall in September to mark there fastest decline since April.

Imports fell 4.4% year-on-year, slowing from the 14.7% drop in September.

Overall, total external trade for October amounted to $16.9 billion, a 9.8% decline from a year earlier.

The Philippines' trade deficit widened to $4.17 billion, compared with $3.51 billion in September.

— Lim Hui Jie

CNBC Pro: 'Top conviction call:' Analysts say it's time to get back into oil — and name stocks to buy

Energy stocks been laggards for much of this year, and were the only sector not to rise in the hot November rally — but some analysts are still bullish.

In fact, Louis Navellier, chairman and founder of Navellier & Associates, said energy is his "top conviction call" right now.

He and Citi named the stocks they like.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Japan's producer prices rise faster than expected in November

Producer prices in Japan rose at a faster-than-expected pace in November, notching a 0.3% gain year-on-year compared with the 0.1% rise forecast by economists polled by Reuters.

The 0.3% rise in the corporate price goods index was lower than October's revised figure of 0.9%, and the slowest rate of growth recorded since February 2021.

The CGPI measures the prices of goods and services traded in the corporate sector.

On a month-on-month basis, producer prices climbed 0.2%, reversing from a 0.3% fall in October.

— Lim Hui Jie

CNBC Pro: S&P 500 hit a new high for 2023. Will the rally last? Here's HSBC forecast

The S&P 500 index hit a new high for 2023 last week, crossing the 4,600 level and continuing its rally since early November. The key question for investors now is whether this momentum can be sustained in the future.

In addition to using historical data, HSBC used artificial intelligence to analyze the language used in most recent quarterly earnings calls to predict stock market performance.

CNBC Pro subscribers can read more here.

— Ganesh Rao

More than 50 S&P 500 companies make fresh 52-week highs

A slew of S&P 500 names reached their highest levels in a year Monday, as the market tried to keep its six-week winning streak going. Overall, 52 S&P 500 components made new 52-week highs. Here's a look at some of them:

• T-Mobile traded at all-time highs back to the MetroPCS IPO in April, 2007
• Booking Holdings traded at all-time highs back to its IPO in April 1999
• Chipotle Mexican Grill traded at all-time high levels back to its IPO in January 2006
• D.R. Horton traded at all-time high levels back to its IPO in June 1992
• Lennar traded at all-time high levels back to when it began trading in 1971
• Lululemon traded at all-time highs back to its IPO in July 2007
• Marriott International traded at all-time high levels back through its spin-off from Marriott Corp in 1993
• NVR, Inc. traded at all-time high levels back to post-bankruptcy IPO in Nov 1993
• Royal Caribbean trading at levels not seen since Feb, 2020
• Boeing trading at levels not seen since June, 2021
• Cintas trading at all-time high levels back to its IPO in 1983
• Fastenal trading at levels not seen since Jan, 2022
• FedEx trading at levels not seen since Aug, 2021
• WW Grainger trading at all-time high levels back to when it began trading in 1967
• Huntington Ingalls trading at levels not seen since Nov, 2022
• Howmet Aerospace trading at all-time highs back to its Alcoa spinoff in Nov, 2016
• Ingersoll-Rand trading at all-time high levels back through our history to 1972

— Fred Imbert, Chris Hayes

Inflation outlook hits lowest since April 2021, New York Fed survey shows

Expectations for inflation over the next year hit their lowest level in more than 2½ years, according to a New York Federal Reserve survey released Monday.

The Survey of Consumer Expectations for November showed the one-year median outlook dipped to 3.4%, a 0.2 percentage point drop from October and the lowest since April 2021. Median expectations at the three- and five-year horizons were changed at 3% and 2.7% respectively.

However, the results jibe with other surveys such as the University of Michigan's Consumer Sentiment reading which showed the one-year outlook plunging to 3.1%, that survey's lowest since March 2021.

As part of the results, the year-ahead expectations for changed in gas prices fell 0.5 percentage point to 4.5%, while the outlook for food costs fell 0.3 percentage point to 5.3%.

—Jeff Cox

Crypto stocks slide, dragged by bitcoin price

Shares of crypto-related equities tumbled on Monday as the price of bitcoin headed for its worst day since August.

Crypto exchange operator Coinbase and bitcoin proxy Microstrategy fell about 6% each while bitcoin miners dropped double digits. Riot Platforms and Marathon Digital, the largest mining stocks, lost 12% and 11%, respectively. Wall Street favorite CleanSpark and Iris Energy were down by 15% and 11%, respectively.

Bitcoin slid 4.8% to $41,793.00, according to Coin Metrics, after topping $44,000 last week for the first time since April 2022.

— Tanaya Macheel

Oil prices largely flat as investors remain wary

Oil prices were were little change Monday as investors navigate growing production with softening demand.

The West Texas Intermediate contract for January rose 9 cents, or .13%, to settle at $71.32 a barrel. The Brent crude contract for February gained 19 cents, or .25%, to settle at $76.03 a barrel.

Oil futures have booked seven straight week of losses amid record production in the U.S., a weakening economy in China, and a lack of confidence in the ability of OPEC+ to balance the market.

— Spencer Kimball