Asian share markets looked to build on recent hefty gains on Tuesday as optimism around all things AI sucked money into the tech sector while wagers on several more US interest rate cuts kept gold on a hot streak.

In Hong Kong, the benchmark Hang Seng Index gained 91 points, or 0.35 percent, to open at 26,435.

On the mainland, the benchmark Shanghai Composite Index opened up 0.04 percent at 3,830 while the Shenzhen Component Index opened 0.68 percent higher at 13,246.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was up 1.02 percent to open at 3,139.

Wall Street had been led to another record as Nvidia announced it would invest up to US$100 billion in OpenAI with the first data centre gear to be delivered in the second half of 2026.

"With US tech/AI currently in red-hot form, we'd need to see something leftfield to derail the upbeat flows that are the driving force of Oracle, Apple, Nvidia, Tesla and some of the US hardware plays," said Chris Weston, head of research at broker Pepperstone.

The seemingly inexorable rise in tech was attracting money from momentum funds and option players, becoming almost self fulfilling. Weston also noted investors were hedging their exposure to equities by buying gold, another asset with strong momentum right now.

The metal hit a fresh record at US$3,755 per ounce to be nearly 9 percent higher for the month so far.

The rush into tech has been a boon for chip sectors in many Asian markets, with South Korean stocks up 0.2 percent, having surged almost 9 percent this month.

Japan's Nikkei was closed for a holiday but has climbed 6.5 percent so far in September. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent.

Equities globally have been underpinned by expectations of a series of further rate cuts from the Federal Reserve following last week's easing. (Reuters/Xinhua)