The win streak has hit six sessions now for the Hong Kong stock market, which has surged more than 1,600 points or 5 percent en route to a fresh record closing high. The Hang Seng Index sits just above the 32,930-point plateau - and while overbought, it's called to open higher again on Wednesday.
The global forecast for the Asian markets is flat to higher, thanks to solid earnings news and a jump in crude oil prices. The European and U.S. markets were mixed and the Asian markets figure to follow that lead.
The Hang Seng finished sharply higher on Tuesday following gains from the financials, oil companies, properties and casinos.
For the day, the index soared 537.29 points or 1.66 percent to finish at the daily high of 32,930.70 after moving as low as 32,554.23.
Among the actives, China Resources Land surged 3.82 percent, while Industrial and Commercial Bank of China soared 3.39 percent, Tingyi Holdings tumbled 2.76 percent, CITIC spiked 2.20 percent, China Life jumped 2.12 percent, New World Development climbed 1.79 percent, Galaxy Entertainment advanced 1.67 percent, Sands China perked 1.36 percent, AIA Group gathered 1.28 percent, Li & Fung skidded 0.96 percent, Hengan International Group added 0.92 percent, CNOOC gained 0.81 percent, BOC Hong Kong and China Petroleum and Chemical (Sinopec) both were up 0.61 percent, Kunlun Energy collected 0.52 percent, Lenovo Group added 0.44 percent and Ping An picked up 0.26 percent.
The lead from Wall Street is cautiously optimistic as stocks were mostly higher on Tuesday, allowing the NASDAQ and the S&P 500 to reach new record closing highs.
The Dow eased 3.79 points or 0.01 percent to 26,210.81, while the NASDAQ climbed 52.26 points or 0.71 percent to 7,460.29 and the S&P 500 rose 6.16 points or 0.22 percent to 2,839.13.
The strength on Wall Street came as lawmakers managed to re-open the government following a brief shutdown, passing a stopgap bill funding the government until February 8th.
Upbeat earnings news has also generated buying interest, with Dow components Johnson & Johnson (JNJ), Procter & Gamble (PG) and Travelers (TRV) reporting better than expected quarterly results.
Crude oil prices were higher Tuesday as OPEC officials continued to signal their determination to re-balance oil markets via supply cuts. February WTI oil climbed 90 cents or 1.4 percent to $64.47/bbl, the highest since December 2014.
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