TOKYO, Sept 9, (AP): Asian shares traded mixed Tuesday as eyes turned to US data reports set for release later in the week that are likely to impact whether the Federal Reserve cuts interest rates at its next meeting. Japan's benchmark Nikkei 225 erased earlier gains to finish 0.5% lower at 43,459.29, as political uncertainty continued after Prime Minister Shigeru Ishiba said over the weekend that he planned to step down.

Who will replace him is still uncertain and may take weeks to decide. The benchmark momentarily surpassed the 44,000 mark. Anticipation over one of the likely candidates, Sanae Takaichi, a hawkish legislator, sent defense issues higher in Tokyo trading. Mitsubishi Heavy Industries rose 0.3%, IHI added 1.0% and Kawasaki Heavy 0.4%.

Veteran ruling party legislator Toshimitsu Motegi has indicated he wants to run, and other expected contenders include Farm Minister Shinjiro Koizumi and Chief Cabinet Secretary Yoshimasa Hayashi. All are members of the ruling Liberal Democratic Party, which will need coalition partners to stay in power. Australia's S&P/ASX 200 declined 0.6% to 8,793.60.

South Korea's Kospi climbed 1.1% to 3,253.57. Hong Kong's Hang Seng surged 0.7% to 25,812.82, while the Shanghai Composite fell 0.5% to 3,808.31. The mixed trading followed a stronger opening in Asia. "Asian markets opened Tuesday with momentum, riding Wall Street’s conviction that Fed cuts are no longer a question of if but how many.

Nearly three reductions are now being priced before year-end. That expectation is washing through global markets like a spring tide,” said Stephen Innes, managing partner at SPI Asset Management. On Wall Street, the S&P 500 added 0.2% and finished just below its record set last week. The Dow Jones Industrial Average rose 114 points, or 0.3%, and the Nasdaq composite climbed 0.5% to its own all-time high.

AppLovin and Robinhood Markets helped lead the market after learning they will join the S&P 500 index later this month, along with Emcor Group. Many investment funds directly mimic the index or at least compare their performance against it, so a stock’s joining the list of the 500 largest companies can draw investors’ dollars immediately. AppLovin climbed 11.6% and Robinhood jumped 15.8% while Emcor slipped 0.6%.