China rally loses steam as authorities disappoint markets; Hong Kong stocks plunge more than 9%

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

SINGAPORE — The rally in Chinese markets lost steam on Tuesday after a briefing from the country's National Development and Reform Commission provided few details on further stimulus.

While mainland China's CSI 300 skyrocketed over 10% at the open Tuesday in its return from the Golden Week holiday, the index pared gains to to record a gain of 5.93% and end at 4,256.1.

Hong Kong's Hang Seng index briefly plummeted over 10%, before recovering slightly to a smaller loss of 9% as of its final hour.

Other Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data out from Japan.

Household spending in Japan fell 1.9% year-on-year in August in real terms, a softer fall compared to the 2.6% decline expected by a Reuters poll of economists.

The drop is the fastest pace of decline since January, which saw a 6.3% fall year-on-year. That decline also came before spring wage negotiations delivered the largest pay hikes to unionized Japanese workers in 33 years.

However, real wages rose in August, with data from the country's statistics bureau indicating that wages climbed 2% to an average of 574,334 yen ($3,877.44).

The benchmark Nikkei 225 slipped 1% after the release and closed at 38,937.54, while the Topix was shed 1.47% to end at 2,699.15

South Korea's Kospi slipped 0.61% to close at 2,594.36, dragged by shares of heavyweight Samsung Electronics after it released worse-than-expected third-quarter guidance.

The small cap Kosdaq edged 0.35% lower, closing at 778.24.

Australia's S&P/ASX 200 slipped 0.35% to close at 8,176.9.

Overnight in the U.S., stocks slid as rising oil prices and higher Treasury yields weighed on market sentiment.

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