Japan stocks lead gains in Asia-Pacific markets after tech rally lifts Wall Street

This is CNBC's live blog covering Asia-Pacific markets.

Asia-Pacific markets rose Tuesday, following an overnight rally in technology shares on Wall Street that saw the S&P500 and Nasdaq Composite post back-to-back gains.

Global semiconductor stocks, including heavyweight Nvidia, climbed Monday after contract electronics giant Foxconn announced record fourth-quarter revenue.

Taiwanese chip manufacturer Taiwan Semiconductor Manufacturing Company hit a fresh high on Tuesday, building on the previous session's gains.

A rally in tech stocks propelled a 1.97% rise in Japan's Nikkei 225, which led gains among its regional peers and closed at 40,083.3. The broad-based Topix gained 1.1% and ended at 2,786.57.

Shares of Nippon Steel fell about 1.52% after the company, along with U.S. Steel, sued the U.S. government over President Joe Biden's decision to block Nippon Steel's $14.9 billion takeover of the U.S company.

South Korea's Kospi advanced 0.14% to 2,492.1, with chip heavyweight Samsung Electronics reversing earlier gains to fall 0.89%. The small-cap Kosdaq was up marginally to close at 718.29.

Australia's S&P/ASX 200 traded 0.34% higher, marking a fourth day of gains and finishing at 8,285.1.

Hong Kong's Hang Seng index tumbled 1.82%, while mainland China's CSI 300 was up 0.54%.

Hong Kong-listed tech stocks are in the spotlight after the U.S. Defense Department added Chinese tech giant Tencent Holdings and battery maker CATL to a list of firms it calls "Chinese military companies."

Tencent's Hong Kong-listed shares are currently down almost 8%.

In the U.S., the S&P 500 advanced 0.55% and climbed alongside the Nasdaq, which gained 1.24% on the back of the tech rally.

However, the Dow Jones Industrial Average lagged, reversing earlier