Asia markets mixed after U.S. stocks jump on inflation data

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

Asia-Pacific markets were mixed after Wall Street jumped overnight, following U.S. inflation data that largely met expectations.

The U.S. consumer price index in February climbed 0.4% on the month and 3.2% year over year, the Bureau of Labor Statistics said on Tuesday.

Economists polled by Dow Jones had forecast a 0.4% increase month on month and 3.1% year over year.

Core inflation, which strips out food and energy from the headline reading, climbed 0.4% in February, compared to a forecast gain of 0.3%.

In Australia, the S&P/ASX 200 ended the day up 0.22% at 7,729.40, extending gains from Tuesday.

Japan's Nikkei 225 reversed gains to fall 0.26%, closing at 38,695.97 and extending its losing streak to a third straight day, while the broad-based Topix also dropped 0.33% to 2,648.51 after logging gains early in the session.

South Korea's Kospi climbed 0.44% to 2,693.57 after its February unemployment rate came in at 2.6%, down from January's figure of 3%. The small-cap Kosdaq ended marginally up at 889.93, snapping three days of gains.

Hong Kong's Hang Seng index was flat, after notching a rise of over 3% on Tuesday, with the mainland CSI 300 also down 0.56%.

Overnight in the U.S., all three major indexes rose after the inflation readings, with the S&P500 gaining 1.12% and hitting a new record high of 5,175.27.

The Nasdaq Composite also saw a 1.54% gain as investors plunged back into tech names, sending shares of Nvidia and Oracle up 7% and 11% respectively. The Dow Jones Industrial Average gained 0.61%.

— CNBC's Yun Li and Brian Evans contributed to this report.

Canon Electronics shares fell as much as 12.7% after Tokyo-based Space One's rocket exploded just moments into its