Asian stock markets settled lower on Tuesday as the yen strengthened against the dollar amid US President Donald Trump's ban on immigration from seven Muslim-majority countries and ahead of a monetary policy decision from the Bank of Japan later in the day.

Japan's benchmark index, Nikkei 225 fell 327.51 points or 1.69 percent to settle at 19,041.34. Hong Kong's Hang Seng fell 13.39 points or 0.06 percent to end at 23,360.78.

Singapore's Straits Times lost 18.05 points or 0.59 percent to end at 3,046.80. South Korea's KOSPI fell 16.02 points or 0.77 percent to end at 2,067.57.

On the other hand, China's benchmark index, Shanghai Composite went up 9.61 points or 0.31 percent to close at 3,159.17. Taiwan's TAIEX rose 23.90 points or 0.25 percent to end at 9,447.95.