Asian stock markets see big gains amid growing expectations of an interest rate cut by the US Federal Reserve.

The Nikkei 225 Stock Average hit an all-time high on Tuesday as relief over US tariffs continued to fan optimism over the nation’s economic outlook, while tech shares led the rally.

Japan’s benchmark Nikkei 225 index extended its upswing and, for the first time, crossed the 43,000 mark on August 13, while the broader Topix index also set a fresh all-time high. The gains in Japan’s equity benchmarks followed upbeat cues from Wall Street overnight, helping the indices post gains for the sixth consecutive session.