Asian stocks made early gains on Wednesday, following a world rally overnight that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook.
President Donald Trump's apparent willingness to comply with the formal transfer of power also boosted investor sentiment, following weeks of legal challenges to the election results. The General Services Administration told Biden this week that he could formally begin the handover process. "Sentiment is running very hot as we come to the end of a cracker month for risk assets, so it does make you wonder whether the market is starting to exhibit signs of euphoria, and is due for a bit of a retracement in the short-term," said IG Australia markets analyst Kyle Rodda.