Asian stock markets see big gains amid growing expectations of an interest rate cut by the US Federal Reserve.

Japan's Nikkei share average breached the 43,000-mark for the first time on Wednesday, with the broader Topix index also scaling a fresh all-time peak, tracking Wall Street's overnight gains and extending the rally to a sixth straight session.

After hitting 42,999.71 intraday on Tuesday, the Nikkei 225 stock index breached the 43,000 level for the first time ever on Wednesday and continued higher from the open with some conviction. The benchmark ended the day up 1.30%, at 43,274.67.