Asian stocks today: Markets mostly in green on US rate cut hopes; HSI trades flat, Taiwan jumps over 150 points

Asian equity markets mostly traded in green on Tuesday, extending the upward rally as investors sentiments were eased by hopes of US interest rate cuts and a concerns around artificial intelligence cooled. At the same time, gold and silver climbed to fresh record levels, adding to the upbeat mood ahead of the festive break.Taiwan gained 160 points or 0.5%, to trade at 28,310. Shanghai and Shenzhen were also up 5 and 50 point respectively. South Korean Kospi also gained 11 points to trade at 4,117 at 11:50 AM IST.HSI, meanwhile, dipped 37 points to 25,764. Nikkei also followed in red, plunging 60 points. Markets were also supported by US economic data showing a rise in unemployment alongside easing inflation, developments that have strengthened the case for the Federal Reserve to begin lowering borrowing costs. The figures helped revive sentiment after a recent pullback in equities.Technology shares led gains again at the start of the week, with companies such as Nvidia and Tesla among the strongest performers on Wall Street, in the absence of major new catalysts. In commodities, precious metals continued to surge as expectations of US rate cuts made non-yielding assets more attractive. Gold prices moved to just below $4,500 an ounce, while silver edged close to $70 an ounce. Geopolitical tensions, including the US blockade against Venezuela and the ongoing conflict in Ukraine, added further support. Oil prices, meanwhile, edged lower after rising more than 2% on Monday amid concerns over Washington’s actions towards Caracas. The United States has seized two oil tankers and is pursuing a third, following President Donald Trump’s order last week to impose a blockade on “sanctioned” tankers travelling to and from Venezuela.