Asian equities gained overnight as tech strength offsets concerns about U.S. interest rates.

The majority of Asian markets increased on Tuesday, helped by a rebound in technology shares ahead of critical Nvidia earnings, but larger gains were restrained by worries about increasing U.S. interest rates and slowing Chinese GDP.

The technology sector witnessed significant increases ahead of Wednesday's closely-watched earnings from Nvidia, even though Wall Street indexes ended the day down. Positioning in shares of companies exposed to the most valuable chipmaker in the world was also influenced by anticipation of the Nvidia findings.

This week, the main focus will be on whether the chip manufacturer benefitted as predicted from the surge in artificial intelligence, a development that is expected to be advantageous to Asian chip companies that supply the company.

Sentiment was still negatively impacted by worries about China's slowing GDP, particularly following the People's Bank's disappointing interest rate drop on Monday.

In anticipation of the Jackson Hole this week, U.S. Treasury rates spiked last night, which made traders cautious.

A robust earnings season helped boost attitude towards Japan in addition to the tech advances. Thanks to increasing prices and ongoing monetary stimulus from the Bank of Japan, top-listed Japanese corporations were predicted to post record profits for a third straight year, according to research by the Japanese news agency Nikkei.

In China, indices added little gains but the outlook remains unclear. All three indices were trading near their lowest points of the year, as concerns about a Chinese economic recovery were heightened by the People's Bank's disappointing interest rate drop on Monday.

The action indicated that the Chinese economy, which is battling its lowest growth rate in years, is only receiving minimal monetary help.

The economic calendar for Europe and the US is pretty quiet for the day, existing home sales in the US are due at 15:00 GMT.

(Sources: investing.com, reuters.com)