Stocks rise in Asia as sentiment recovers; downward correction remains

Asian stock indexes extended gains for second day in a row on Wednesday, following a record-high close in Wall Street backed by technology companies.

<<< Data by 06:30 GMT >>>

Australia ASX S&P +27.40 +0.45% 6,071.60

Shanghai Composite +20.44 +0.60% 3,430.94

Hong KOng Hang Seng +276.55 +0.93% 30,094.62

Japan Nikkei 225 +134.02 +0.60% 22,550.50

Taiwan TSEC 50 Index +26.55 +0.25% 10,805.79

The cheering mood among Asian investors took Hong Kong's Hang Seng index above the 30,000 level little after hearing the opening bell.

No relevant data is due in Asia. Markets are expected to remain in tight ranges as the Thanksgiving holiday and Black Friday are just around the corner.

Americans typically use Black Friday as an opportunity to buy products at discount prices for the already-here presents season, which includes Christmas and New Year. This day could modify sales figures for the month, which would be visible in the next sales report.

Market players were also moderately careful about a "flattening" trend in Treasury debt yields, which could present before an economic downturn, according to economists.

United States 30-Y Bond Yield 2.758 -0.004 -0.16%

United States 10-Y Bond Yield 2.358 -0.003 -0.14%

The data front on Tuesday included existing home sales for Oct, which surpassed expectations with a 2.0 percent monthly increase to a seasonally adjusted rate of 5.48 million units.

Ahead in the day, traders will focus on US durable goods orders at 13:30 GMT, which are seen at a 0.3 percent growth rate for October.

The Labor Department will release its weekly jobless claims count at 13:30 GMT. Analysts are expecting a reduction to 240,000 from a prior week 249,000.

The University of Michigan will present its consumer expectations and consumer sentiment indicators for November as of 15:00 GMT, with readings of 87.6 and 98.0 eyed.

However, attention will mainly be directed to the release of the latest Federal Reserve meeting minutes at 19:00 GMT. Market participants will be searching for hints on future monetary plans.

Fort Financial Services