Asia Shares Rise As Investors Await US Growth Data

Markets across Asia rose on Wednesday, extending the previous day's rally, as inflation worries ease and vaccine and reopening optimism strengthened expectations for a strong global recovery.

Investors were also looking ahead to US data on Thursday that is expected to show the world’s number one economy accelerated in the first three months of this year, after expanding at an annual rate of 4.3 percent in the final quarter of last year.

Economists expect a huge rebound following the deepest slump since the Great Depression of the 1930s.

In Hong Kong, the Hang Seng Index rallied 255 points, or almost 0.9 percent, to close at 29,166.

Turnover hit HK$164.3 billion.

Mainland hotpot chain Haidilao was the biggest blue-chip winner of the day, gaining almost five percent.

Macau gaming shares also fared well, with Galaxy Entertainment and Sands China both adding around four percent.

Across the border, the Shanghai Composite Index rose 0.3 percent while the Shenzhen Composite Index edged down slightly.

Elsewhere in Asia, Tokyo's Nikkei added 0.3 percent as investors keep an eye out on whether the government will extend a virus state of emergency until the end of June.

Casual wear giant Uniqlo’s mother company, Fast Retailing, climbed 0.5 percent while video game company Nintendo gained over 1 percent.

The Kospi in Seoul was little-changed and Sydney lost 0.1 percent.

India's Sensex added 0.6 percent while New Zealand declined.

Markets in Singapore, Thailand and Indonesia were closed for holidays.