Asian shares rose alongside precious metals on Tuesday as momentum buying from investors extended ahead of the festive holidays, with an advanced reading on US gross domestic product expected later in the day.

In Hong Kong, the benchmark Hang Seng Index gained 74 points, or 0.29 percent, to open at 25,875, while the Hang Seng China Enterprises Index was 26 points, or 0.29 percent, higher at 8,966 and its tech counterpart was seven points, or 0.14 percent, higher at 5,534.

Up north, the benchmark Shanghai Composite Index was up 0.04 percent at 3,919 while the Shenzhen Component Index was 0.05 percent higher at 13,338 and the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was up 0.14 percent at 3,196.

The fragile yen found a floor as traders stayed alert to any signs of intervention from Japanese authorities to stem the currency's slide, which has picked up pace in the wake of a well-telegraphed Bank of Japan rate hike on Friday.

Despite it being a holiday-shortened week for much of the world, investors will have the chance to catch up on a slew of US economic releases in the coming days, which had been delayed by a record government shutdown last month.

Tuesday's key data point will be on third-quarter growth figures, which are forecast to show the US economy had continued to grow strongly.

Expectations are for annualised growth to come in at 3.3 percent, a slight pullback from the previous quarter due in part to a ⁠sharp pullback in imports after a run-up earlier in the year ahead of the introduction of tariffs.

"Looking ahead, underlying growth is likely to slow down in Q4 given the lengthy government shutdown and the potential for a further headwind from auto sales," said David Doyle, head of economics at Macquarie Group.

Still, the market mood remained buoyant ahead of the outcome and MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.31 percent in early trade, while Tokyo's Nikkei tacked on 0.1 percent.

S&P 500 futures were little changed while Nasdaq futures added 0.11 percent.

Overnight, shares of Nvidia rose after the company reportedly told Chinese clients it aimed to start shipping its second-most powerful AI chips to China before the Lunar New Year holiday in mid-February. (Reuters/Xinhua)