BANGKOK — Asian shares and U.S. futures advanced on Wednesday after benchmarks on Wall Street surged on hopes the Federal Reserve will soon opt to cut interest rates.

Tokyo's Nikkei 225 jumped 2% to 49,650.77 in a broad rally that encompassed major exporters and technology shares.

In South Korea, the Kospi also gained 2.1%, to 3,940.15, helped by a 2.3% gain for Samsung Electronics, the market's biggest heavyweight.

Chinese markets saw more modest gains.

Hong Kong's Hang Seng rose 0.5% to 26,013.33 and the Shanghai Composite index edged 0.1% higher, to 3,875.48.

Shares in the Chinese e-commerce giant Alibaba fell 1.1%. Its U.S.-traded shares fell 2.3% on Tuesday after its profit fell short of forecasts, though it reported stronger revenue than analysts had expected for the latest quar

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