Asia-Pacific markets are mixed after Wall Street went into the Thanksgiving holiday with a broad based rally.
More than half of the stocks trading on the New York Stock Exchange were up Wednesday. The tech-heavy Nasdaq also saw greater participation, with 62.9% of the stocks in the index rising. Small- and mid-caps outperformed Wednesday, rising 0.7% and 0.6%, respectively.
In Asia-Pacific, Australia’s S&P/ASX 200 was down 0.5%, extending losses from the day before.
The country saw its business activity contract at a faster pace in November, according to flash estimates from Judo Bank. Australia’s composite purchasing managers index slid to 46.4, down from October’s 47.6.
South Korea’s Kospi reversed earlier gains and dropped 0.13%, but the small-cap Kosdaq advanced 0.45%.
Hong Kong’s Hang Seng index slipped 0.34%, but the mainland Chinese CSI 300 index was marginally up.
Japan’s markets are closed due to a public holiday.
Overnight in the U.S., all three major indexes rebounded from Tuesday’s losses, with the benchmark 10-year Treasury yield also briefly falling to its lowest level in two months.
The yield on the 10-year Treasury briefly fell to 4.369% Wednesday morning, the lowest level since Sept. 22. It later recovered and was last little changed at 4.41%.
The Dow Jones Industrial Average gained 0.53%, while the S&P 500 climbed 0.41%. The Nasdaq Composite advanced 0.46%.