• U.S. stocks were volatile overnight, and the three major indexes posted sharp monthly losses as investors assess the uncertainty in Russia and Ukraine, and the related sanctions.
• On the earnings front, Chinese tech giant Baidu is expected to announce its fourth-quarter results late in Asia.
• China's official manufacturing Purchasing Managers' Index for February was 50.2, beating analyst expectations of a reading of 49.9 in a Reuters poll. The February figure is slightly higher than January's 50.1.

SINGAPORE — Asia-Pacific markets rose on Tuesday as investors navigated the changing situation in Russia and Ukraine.

Japan's Nikkei 225 gained 1.2% to close at 26,844.72, while the Topix advanced 0.54% to 1,897.17.

In China, the Shanghai composite rose 0.77% to 3,488.84, and the Shenzhen component climbed 0.25% to 13,488.64. Hong Kong's Hang Seng index was up 0.38% in afternoon trade.

China's official manufacturing Purchasing Managers' Index for February was 50.2, beating analyst expectations of a reading of 49.9 in a Reuters poll. The February figure is slightly higher than January's 50.1.

A reading above 50 represents expansion, and a figure below that level signifies contraction. PMI readings are sequential and represent month-on-month expansion or contraction.

The private PMI survey also showed growth in China's factory activity.

Australia's S&P/ASX 200 was up 0.67%. The Reserve Bank of Australia kept rates on hold at 0.1% at its meeting, in line with expectations from a Reuters poll. It said the war in Ukraine is a "major new source of uncertainty," and that it is monitoring how various factors affect inflation in Australia.

Elsewhere, South Korea markets are closed for a holiday on Tuesday.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.68%.

On the earnings front, Chinese tech giant Baidu is expected to announce its fourth-quarter results late in Asia.

U.S. stocks were volatile overnight, and the three major indexes posted sharp monthly losses as investors assess the uncertainty in Russia and Ukraine, and the related sanctions.

The two countries held their first round of talks on Monday, and the Associated Press reported that more negotiations could happen soon.

The U.S. and its allies have announced heavy sanctions on Moscow following Russia's invasion of Ukraine last week.

Canada became the first Western nation to specifically target Russian energy when it said it will ban Russian crude oil imports. The White House said it has not ruled out restrictions on U.S. purchases of oil and gas, but has not sanctioned the industry so far.

Russia's central bank on Monday more than doubled its key interest rate as the ruble plunged.

Currencies and commodities

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 96.687.

The Japanese yen traded at 115.01, weakening slightly from 114.99, while the Australian dollar changed hands at $0.7287.

U.S. West Texas Intermediate crude futures jumped 1.51% to $97.17 per barrel in Asia trade, while Brent crude gained 1.84% to $99.77 per barrel.

Spot gold, traditionally a safe haven in times of uncertainty, last traded at $1,907.20.