Global Markets Today: Asian markets were largely higher on Tuesday, following Wall Street's rally driven by gains in technology stocks.
Japan's Nikkei 225 surged 0.9 per cent to a record high crossing 44,000, marking its second consecutive day of gains following the resignation announcement of Prime Minister Shigeru Ishiba on Sunday. The Topix climbed 0.52 per cent.
South Korea's Kospi advanced 0.35 per cent, while the Kosdaq inched up 0.19 per cent. Meanwhile, Australia's S&P/ASX 200 slipped 0.29 per cent.
Futures for Hong Kong's Hang Seng index were at 25,643, slightly above its previous close of 25,633.91.
The tech-focused Nasdaq gained 0.45 per cent to finish at 21,798.70, marking a fresh all-time high after setting a new intraday record. The S&P 500 edged up 0.21 per cent to 6,495.15, while the Dow Jones Industrial Average added 114.09 points, or 0.25 per cent, to close at 45,514.95.
Gains were driven by a 3 per cent rise in Broadcom shares and a nearly 1% rebound in Nvidia, which recovered some of its sharp losses from the past month. Amazon and Microsoft also ended higher.
Following a weak nonfarm payrolls report on Friday that heightened worries about a slowing U.S. job market, investors are anticipating multiple interest rate cuts this year.
Markets have already factored in a minimum 25 basis point cut when the Fed concludes its two-day policy meeting on September 17, with FedWatch data from CME Group indicating a 10% probability of a 50 basis point cut.
(With inputs from agencies)