People cross a street in Causeway Bay, Hong Kong.

Mark Fernandes | Nurphoto | Getty Images

Asia-Pacific shares traded higher on Wednesday after US stocks rallied for a second day.

Hong Kong’s Hang Seng index rose to close 5.9% higher at 18,087.97 after recovering from Tuesday’s holiday. The Hang Seng Tech index rose 7.54% higher.

The IS Nikkei 225 in Japan rose 0.48% to close at 27,120.53, while the Topix added 0.32% to 1,912.92.

In South Korea, the Kospi up 0.26% at 2,215.22 and the Kosdaq pared early gains to close 1.64% lower at 685.34. Inflation in South Korea slowed slightly in September, according to official data released on Wednesday.

Australia S&P/ASX 200 up 1.74% at 6,815.70. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 2.55%.

Mainland China markets are still closed for the Golden Week holiday, and the Indian stock market is also closed for a holiday.

On Wall Street overnight, stocks rose overnight in the US for the second 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, while the Nasdaq Composite was 3.3% higher to close at 11,176.41.

“There’s no denying that US economic data coming into equities, bonds and currency moves has had a hand so far this week,” wrote Ray Attrill, head of FX strategy at National Australia Bank.

The US Job Openings and Labor Turnover report yielded a “big downside surprise” that could not be ignored, he wrote. It is the “first meaningful sign of some cracks” in the labor market, although it is still very tough, he said.

— CNBC’s Tanaya Macheel and Alex Harring contributed to this report.



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