Asia markets mixed after Tuesday's broad sell-off; Singapore exports plunge more than expected

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

Asia-Pacific markets were mixed after Tuesday's broad sell-off, with traders watching trade data out of Japan and Singapore on Wednesday.

Singapore's non-oil domestic exports plunged 20.7% in March, marking a huge miss from the 7% decline expected by economists polled by Reuters.

Investor sentiment, however, might be tempered by comments from U.S. Federal Reserve Chair Jerome Powell, who said there has been "a lack of further progress so far this year on returning to our 2% inflation goal."

Echoing recent statements by central bank officials, Powell indicated the current level of policy likely will stay in place until inflation gets closer to target.

Japan's Nikkei 225 slipped 0.61%, reversing earlier gains, while the broad-based Topix saw a larger loss of 1.03%. The Reuters Tankan index showed that business optimism dipped in Japan for April.

South Korea's Kospi extended losses, falling 0.49% after leading losses in Asia on Tuesday, but the small cap Kosdaq was up 0.47%.

In Australia, the S&P/ASX 200 was trading up 0.14%.

Hong Kong's Hang Seng index was marginally higher, while the CSI 300 on mainland China fell 0.17%.

Overnight in the U.S., the Dow Jones Industrial Average rose 0.17%, to snap a six-day run of losses, lifted by UnitedHealth shares.

In contrast, the S&P 500 slipped 0.21% and the Nasdaq Composite shed 0.12%, while the 2-year U.S. Treasury yield briefly spiked above 5% following Powell's remarks.

— CNBC's Sarah Min, Alex Harring and Lisa Kailai Han contributed to this report.

Japanese chipmaker Kioxia is reportedly planning an initial public offering in 2024, according to Nikkei.

The report said the company will list on the Tokyo Stock Exchange as soon as