Hong Kong Stocks Poised to Extend Gains as Oil, Yields Soften; Hang Seng Up 1%

Hong Kong's Hang Seng Index is tipped to open higher Wednesday after rising 240.22 points, or 1.00 percent, to close at 24,280.56 on Tuesday, its second straight advance. Technology and semiconductor shares led the gains, while financials and property stocks lagged. The index traded between 24,179.38 and 24,354.11 during the session. The upbeat outlook for Asian markets follows gains on Wall Street and retreating oil prices and Treasury yields, which pulled back after recently surging to multi-decade highs. On Wall Street, the Dow rose 253.38 points, or 0.49 percent, to 51,521.28. The NASDAQ added 122.48 points, or 0.45 percent, to a record 27,599.79, and the S&P 500 gained 44.98 points, or 0.58 percent, to 7,818.93, also a record. Traders await minutes from the Federal Reserve's latest policy meeting. Separately, Commerce Department data showed the U.S. trade deficit widened more than expected in August. West Texas Intermediate crude for November delivery slipped $0.18, or 0.2 percent, to $89.25 a barrel.