AI, tech recovery, Nikkei 225, Hang Seng Index

Asia-Pacific markets traded mixed Tuesday, after Wall Street’s tech stocks rebounded on a rally in Google parent  and hopes of a Fed rate cut.

Optimism about Alphabet’s standing in the AI race started last week after the tech giant announced its upgraded AI model, Gemini 3. The stock closed 6.31% higher Monday. Other AI-related stocks, such as Broadcom and Micron Technology, also popped higher, building on a wider rebound that started on Friday, when the head of the New York Federal Reserve left the door open to a December interest rate cut.

Japan’s benchmark Nikkei 225 index was up 0.15%, while the Topix index erased earlier gains to fall 0.1%.

AI-related stocks were among the top gainers on the Nikkei 225, with semiconductor testing equipment supplier Advantest trading 4.8% higher and chip equipment maker Lasertec adding 1.15%. Tokyo Electron, which provides essential chipmaking equipment to foundries that manufacture Nvidia’s chips, gained 3.45%.

South Korea’s Kospi index rose 0.18%%, while the small-cap Kosdaq reversed course, falling 0.21%. Index heavyweights SK Hynix and Samsung Electronics also pared gains, advancing 0.1% and 2.38%, respectively.

Australia’s ASX/S&P 200 added 0.14% in volatile trading.

Hong Kong’s Hang Seng Index rose 0.64%, and the Hang Seng Tech index advanced 1.22%. The mainland’s CSI 300 extended gains, climbing 1.26%.

India’s Nifty 50 was flat in early trading, while the BSE Sensex index added 0.13%.

U.S. equity futures were little changed in early Asian hours.

Overnight, the S&P 500 rose 1.55% to close at 6,705.12, while the Nasdaq Composite jumped 2.69% to settle at 22,872.01. It was the tech-heavy index’s best day since May 12, when it rose 4.35%. The Dow Jones Industrial Average climbed 202.86 points, or 0.44%, to end at 46,448.27.

— CNBC’s Sean Conlon and Yun Li contributed to this report.