Asia markets set to rise as U.S. Treasury yields climb; data from Australia and Japan on deck

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

Asia-Pacific markets are set to rise even as U.S. Treasury yields put pressure on Wall Street equities Monday.

On Tuesday, investors in Asia will observe business confidence surveys from Australia and consumer confidence data from Japan.

In Australia, futures for the S&P/ASX 200 also point to a rebound, at 7,866 compared to the last close of 7,789.1.

Japan's Nikkei 225 is also set to extend gains, with the futures contract in Chicago at 39,520 and its counterpart in Osaka at 39,480 against the index's last close of 39.347.04.

Futures for Hong Kong's Hang Seng index stood at 16,831, pointing to a weaker open compared to the HSI's close of 16,732.85.

Overnight in the U.S., all three major indexes remained largely range bound, with investors awaiting the consumer price index report out on Wednesday to gauge the U.S. Federal Reserve's rate cut path.

The Dow Jones Industrial Average inched lower by 0.03%, while the S&P 500 ticked down by 0.04%. Meanwhile, the Nasdaq Composite closed marginally higher by 0.03%.

Treasury yields rose, with the rate on the benchmark 10-year Treasury note up about 4 basis points to 4.42%.

— CNBC's Hakyung Kim and Yun Li contributed to this report.

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