Asian share markets rallied on Tuesday as hopes grew the US Federal Reserve will deliver a December interest rate cut while investors piled into global technology stocks, shrugging off concerns the sector was becoming overheated.

In Hong Kong, the benchmark Hang Seng Index gained 232 points, or 0.9 percent, to open at 25,948.

Up north, the benchmark Shanghai Composite Index was up 0.36 percent at 3,850 while the Shenzhen Component Index was 0.85 percent higher at 12,692 and the ChiNext Index, tracking the nation's Nasdaq-style board of growth enterprises, was up 1.42 percent at 2,970.

In Japan, the Nikkei stock gauge climbed after a holiday-extended weekend, boosted by strong performances among technology shares that mirrored a recent rally on Wall Street.

The Nikkei 225 Index was up 0.7 percent at 48,946, bouncing back from a 2.4 percent slide on Friday. The broader Topix edged 0.2 percent higher.

MSCI's broadest index of Asia-Pacific shares outside Japan rose one percent led mainly by tech stocks, recouping some of the losses from last week when it fell four percent. The index is on course for a 3.8 percent drop in the month, its first monthly decline since March.

The prospect of a US rate cut is rising after Fed governor Christopher Waller said available data indicated that the job market remains weak enough to warrant another quarter-point cut to interest rates.

The US central bank will meet on December 9 and 10. (Reuters/Xinhua)