Asian stocks were poised for an upturn, following Wall Street's recent rebound driven by favorable US economic data and positive sentiment towards China's economy. Hong Kong's market was expected to open over 2% higher, while Chinese shares in New York surged by 4% and Tokyo's market also indicated gains. Australian equities started up by 0.6%. US stocks saw a second consecutive day of gains, with industrial and energy sectors leading the rally. Despite concerns about a recession, strong economic data and improved consumer spending provided some relief to traders. The S&P 500 rose by 0.6%, the Nasdaq 100 by 0.55%, and the Dow Jones Industrial Average by 0.9%. Meanwhile, the Russell 2000 increased by 1.2%. One basis point drop in 10-year Treasury yields and a 0.2% fall in the Bloomberg Dollar Spot Index were also observed. In China, investors are awaiting upcoming earnings reports, and the Bank of Japan is expected to maintain its policy rate at 0.5%. Governor Kazuo Ueda's remarks on global economic concerns will be under close scrutiny during the two-day gathering.