Asian stocks mostly rose on Tuesday, with Hong Kong's Hang Seng Index up 1% to 24,280 and Japan's Nikkei 225 gaining 1.05% to 70,683. However, South Korea's Kospi fell 0.89% to 6,941. The gains were largely driven by Wall Street's tech-led record, but concerns over rising government borrowing costs and the Middle East crisis, which is pushing up energy costs and inflation, tempered the optimism. Analysts noted that the race to build AI data centers has led to significant borrowing by tech giants, with Google, Amazon, and Microsoft collectively borrowing around US$500 billion in the first nine months of the year. Goldman Sachs projects this figure to reach US$1.2 trillion by 2027.