Asian stock markets are largely up on Tuesday, driven by positive signals from Wall Street and growing optimism regarding U.S.-China trade relations. China's move to cut its benchmark lending rates for the first time in seven months has further boosted market sentiment.
Australia's S&P/ASX 200 is up by 0.58 percent, reaching 8,343.50, with notable gains in technology, mining, and financial sectors. TechnologyOne shares have seen a surge of over 12 percent following a 30 percent increase in their interim dividend. Conversely, Kogan.com shares experienced a decline of almost 6 percent.
Japan's Nikkei 225 has increased by 0.51 percent, hitting 37,691.56, supported by broad sector gains led by index heavyweights and tech stocks. The Reserve Bank of Australia is anticipated to cut its benchmark lending rate to 3.85 percent. The Australian dollar is currently trading at $0.644 on Tuesday. On Wall Street, the Dow is up 0.3 percent, the S&P 500 is up 0.1 percent, and the Nasdaq is slightly up by less than 0.1 percent. Crude oil prices have seen a slight increase after Goldman Sachs raised its demand outlook, with West Texas Intermediate crude up 0.27 percent to $62.66 per barrel.