Asian stock markets are showing positive momentum in pre-market trading, tracking a rebound on Wall Street amid renewed hopes for rate cuts following softer U.S. economic data.

Overnight developments include gains across major indices, with South Korea's KOSPI leading at +1.6%, Australia's S&P/ASX 200 up over 1%, Japan's Nikkei 225 rising 0.6%, and China's Shanghai Composite increasing 0.5%. Hong Kong's Hang Seng, however, is bucking the trend with slight declines in futures.

Most searched tickers in the region include tech giants like Taiwan Semiconductor (TSM), Alibaba (BABA), and Tencent (TCEHY), driven by global chip demand and U.S. market influences.

Key indices performance: Nikkei 225 futures indicate a 0.6% gain, Hang Seng futures are down marginally by 0.1%, and Shanghai Composite is expected to open 0.5% higher.

No major earnings releases are scheduled for today in Asian markets, but investors are monitoring upcoming reports from regional tech firms later in the week.

Key economic events include the Reserve Bank of India's policy decision looming, which could impact regional sentiment, alongside ongoing assessments of China's PMI data and South Korea'sindustrialoutput.

Expected price movements suggest continued upward pressure on tech-heavy indices like the Nikkei and KOSPI, with potential volatility in Hang Seng due to trade concerns; overall, a mixed but mostly positive open is anticipated tracking global cues.