Hong Kong’s Hang Seng index rose 3 percent in the first hour of trading, leading benefits in the wider region.

The tech division led the rally, with shares such as Baidu, JD.com and Alibaba all up nearly 4 percent.

In Australia, the S&P/ASX 200 rose 0.64 percent.

Kospi rose 0.69 percent as South Korea’s consumer inflation in May fell to a 19-month low and eased for the fourth consecutive month. The Nikkei 225 rose 0.62%.

Mainland China’s Shanghai Composite Index rose 0.24 percent and the Shenzhen Component Index fell 0.67 percent.

All three major indices boosted their interests overnight in the US, with the S&P 500 and the Nasdaq Composite closing at their highest levels since August. The Dow Jones Industrial Average rose 0.47%.

The House passed a bill late Wednesday to raise the debt limit and set a broad cap on government spending, and sent the bill to the Senate just days before the deadline on Monday, when the United States defaulted. Senate Majority Chair Chuck Schumer said the legislature will pass the bill Thursday night.

Investors are also looking forward to Friday’s May jobs report. The latest data point to a strong labor market despite the Federal Fed’s aggressive rate hike plan.

Source: Bloomberg HT