Asian markets are trading higher after US stocks rose for a second day
People cross a street in Causeway Bay, Hong Kong.
Marc Fernandes | Nurphoto | Getty Images
Asia-Pacific shares traded higher on Wednesday after US stocks rose for a second day.
Hong Kong’s Hang Seng index rose 5.1% as it returned to trading after a public holiday on Tuesday. The Hang Seng Tech index rose 7.1[ads1]1% higher.
Japan’s Nikkei 225 rose 0.35%, rising above the 27,000 level, while the Topix gained 0.3%.
In South Korea, the Kospi was flat and the Kosdaq gave up early gains to fall 1.47%. Australia’s S&P/ASX 200 was up 1.6%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 2.26%.
On the economic front, inflation in South Korea eased slightly in September, according to official data released on Wednesday.
Markets in Mainland China remain closed for the Golden Week holiday, and India’s market is also closed for a public holiday.
On Wall Street overnight, stocks rose overnight in the US for another session. The Dow Jones Industrial Average jumped 825.43 points, or 2.8%, to 30,316.32. The S&P 500 advanced nearly 3.1% to close at 3,790.93, and the Nasdaq Composite was 3.3% higher at 11,176.41.
“There is no doubt that incoming US economic data has played a part in share, bond and currency movements so far this week,” wrote Ray Attrill, head of currency strategy at National Australia Bank.
The U.S. job openings and labor turnover report produced a “big downside surprise” that could not be ignored, he wrote. It is the “first significant sign of some cracks” in the labor market, although it remains very tight, he added.
— CNBC’s Tanaya Macheel and Alex Harring contributed to this report.
