Key TakeawaysAsia-Pacific markets saw significant gains, tracking Wall Street's performance, fueled by increasing expectations of a U.S. Federal Reserve interest rate cut in December. Hong Kong's Hang Seng Index notably climbed above the 26,000 mark on these hopes.The AI chip market is experiencing escalating competition, with Nvidia (NVDA) facing a new challenge as Meta Platforms (META) reportedly engages in talks to spend billions on Google's (Alphabet (GOOGL)) Tensor Processing Units (TPUs).Beijing has r ...