SYDNEY: Asian share markets rallied on Tuesday as hopes grew the Federal Reserve will deliver a December interest rate cut, while investors piled into global technology stocks shrugging off concerns the sector was becoming overheated.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1% led mainly by tech stocks, recouping some of the losses from last week when it fell 4%. The index is on course for a 3.8% drop in the month, its first monthly decline since March.