Asian stock markets largely rallied on Tuesday, following media reports of possibly renewed Tehran-Washington ceasefire talks, and as traders looked for values after recent tech routs.

Shanghai and Tokyo finished in the green, while Hong Kong concluded flat. Seoul and Taiwan led other regional trading floors higher.

In Japan, the Nikkei 225 opened evenly after a three-day weekend and rose to the close, finishing up 3.3% as chip-stocks regained favor after recent declines.

The benchmark Nikkei 225 rose 2,091.07 to 66,232.19, as gaining issues outnumbered losers 186 to 37.

Leading the upside was memory-chip maker Kioxia, rallying 17.2%, while game-maker Nintendo declined 4.1%.

In Hong Kong, the Hang Seng Index opened evenly wobbled and finished flat, as softening property-sector shares offset strength in tech issues.

The broad gauge Hang Seng fell 10.76 to 25,132.29 as losing issues outnumbered gainers 49 to 41. The Hang Seng TECH Index gained 1.3% on the day, but the Mainland Properties Index fell 0.9%.

Leading the upside was computer-maker Lenovo, gaining 8.5%, while China Resources Mixc Lifestyle Services declined 3.2%.

On the mainland, the Shanghai Composite rose 1.8% to 3,864.37.

Shanghai gained as mainland AI- and semiconductor-stocks rallied following a media report that startup Z.AI completed a one-gigawatt data center using only domestic chips, mitigating fears that US export restrictions, such as those on Nvidia (NVDA) chips, would retard such developments.

On the other regional exchanges, the S. Korean KOSPI rose 3.6%; the Taiwan TWSE inclined 4.2%; the Australian ASX 200 was steady; the Singapore Straits Times Index rose 0.5%, and the Thai Set inclined 0.4%. In late trading in Mumbai, the Sensex was down 0.3%.

The MSCI All Country Asia Pacific Index rose 2.4% on the day.