Stocks wobbled around Asia on Thursday after disappointing earnings at US cloud computing giant Oracle sounded a warning for AI profitability, while bonds were firm and the dollar nursed losses after the US Federal Reserve cut interest rates.

In Hong Kong, the benchmark Hang Seng Index rose 169 points, or 0.66 percent, to open trading for Thursday at 25,710.

On the mainland, the Shanghai Composite Index was up just over three points, or 0.09 percent, at 3,903 while the Shenzhen Component Index's rise was slightly more comfortable, up close to 17 points, or 0.13 percent, at 13,333 and the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was up 0.05 percent at 3,210.

Oracle shares tumbled more than 11 percent after hours, dragging S&P 500 futures 0.3 percent lower and Nasdaq 100 futures down about 0.5 percent in Asia trade.

AI-related stocks were the biggest losers in Tokyo, as Oracle's profit and revenue outlook missed forecasts and executives flagged higher spending – a sign that infrastructure outlays are not turning into profits as quickly as investors had hoped.

Japan's Nikkei traded either side of flat in the morning session with a 5 percent drop in the AI-exposed SoftBank Group holding back the index.

The gains by the Hang Seng Index helped put MSCI's broadest index of Asia-Pacific shares outside Japan up around 0.5 percent.

Overnight the Fed lowered its benchmark funds rate, as expected, by 25 basis points to 3.5 to 3.75 percent.

But Fed chair Jerome Powell sounded balanced on the outlook at a news conference, easing market nerves about a hawkish message. Wall Street indexes rallied after the rate cut and the S&P 500 rose about 0.7 percent.

"I don't think a rate hike is anyone's base case," Powell said.

That left interest rate futures with at least two rate cuts priced in for next year and undercut the greenback, which helped to send the euro through chart resistance and above US$1.17. (Reuters/Xinhua)