Asia-Pacific markets fell on Tuesday despite gains on Wall Street, where optimism around technology stocks lifted key indexes overnight.

In the U.S., Amazon shares surged 4% following a $38 billion deal with OpenAI, leveraging hundreds of thousands of Nvidia graphics processing units. Nvidia rose about 2% after securing export licenses to ship its chips to the United Arab Emirates.

In the region, Australia’s S&P/ASX 200 dropped 0.91% to 8,813.7 after the Reserve Bank of Australia kept its cash rate unchanged at 3.6%, citing inflation concerns. Japan’s Nikkei 225 lost 1.74% to close at 51,497.2, while the Topix fell 0.65% to 3,310.14. South Korea’s Kospi tumbled 2.37% to 4,121.74, though the Kosdaq index rose 1.31% to 926.57, reflecting continued optimism in smaller tech-focused companies.

The Kospi has climbed in 12 of the past 15 sessions, driven by global AI tailwinds and domestic reforms reducing the “Korea discount.” South Korea also announced plans to triple AI spending in 2026 to 10.1 trillion won ($7 billion), aiming to position itself among the world’s top three AI powers.

Hong Kong’s Hang Seng Index slid 0.79% to 25,952.4, while mainland China’s CSI 300 declined 0.75% to 4,618.70.

Overnight in the U.S., the Nasdaq rose 0.46%, the S&P 500 gained 0.17%, and the Dow Jones Industrial Average fell 0.48%.