Asian markets traded mixed early Tuesday despite strong optimism in U.S. tech leadership overnight following Amazon’s $38 billion infrastructure deal alignment with OpenAI. The S&P 500 futures traded 0.5% lower, indicating that equity flows remain tactical and selective with over 300 S&P 500 constituents declining despite top end megacap acceleration. Asian investors have shown caution absorbing second order effects from the AI powered rebound and prefer waiting for clarity on regional earnings risk, energy curve stability and Fed trajectory signalling. Tech enthusiasm remains present, but sustained upside will depend on data and cross region liquidity alignment.