BANGKOK (AP) — Asian shares were mixed on Tuesday after U.S. stocks rallied on hopes the Federal Reserve will cut interest rates soon.

U.S. futures edged lower and oil prices also declined.

Tokyo’s Nikkei 225 was trading less than 0.1% higher, at 48,644.92, after reopening from a holiday.

In South Korea, the Kospi also traded in a narrow range and was nearly flat at 3,848.00. Taiwan’s Taiex was up 1.4%.

Chinese markets advanced. In Hong Kong, the Hang Seng climbed 0.6% to 25,875.36, while the Shanghai Composite index jumped 1.1% to 3,880.22.

E-commerce giant Alibaba, which was due to report its earnings late Tuesday, gained 2.4%.

Australia’s S&P/ASX gave up 0.2% to 8,510.30.

U.S. markets will be closed on Thursday for the Thanksgiving holiday. A day later, it’s on to the rush of Bla

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