Asian shares advanced on Wednesday, capping a year of brisk artificial intelligence-driven gains, while commodities such as gold and silver extended their bullish run to new all-time highs as 2025 draws to a close.

In Hong Kong, the benchmark Hang Seng Index gained almost six points, or 0.02 percent, to open at 25,780.

Across the border, the benchmark Shanghai Composite Index was up 0.01 percent at 3,920 while the Shenzhen Component Index was 0.07 percent higher at 13,378 and the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was up 0.07 percent at 3,207.

The gains came after the S&P 500 notched a closing record overnight on Wall Street as the elusive Santa Claus rally finally set in. US data showing the economy expanded at a much faster-than-expected clip in the third quarter boosted risk sentiment but weighed on bonds.

Gold and silver were again the big movers ⁠in early Asian trade. Spot gold prices climbed 0.8 percent to another all-time high of US$4,524 per ounce, bringing the gain for this year to 72 percent. Silver jumped 1.2 percent to a record US$72 per ounce and was set for an annual rise of almost 150 percent, its best year ever.

Stocks in the region were slightly higher, with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.3 percent. The index is up 26 percent for the year, its best performance since 2017.

Euro Stoxx 50 futures, Nasdaq futures and S&P 500 futures were little changed amid thin liquidity.

Japan's Nikkei rose 0.4 percent and was up 26 percent this year. South Korea outperformed the rest of Asia for the year with a meteoric surge of 72 percent.

"As equity markets enter the fourth year of a bull market, our underlying market call remains constructive," said Scott Chronert, a US equity strategist at Citi, who is tipping another year of upsides ⁠for equities on earnings growth and high valuations.

"Yet, high performance dispersion within themes, sectors, and market cap is expected."

In the foreign exchange market, the yen gained for a third straight session amid intervention risk from Japanese authorities. The dollar lost 0.3 percent to 155 yen, retreating from the 158 level zone that drew intervention in the past. (Reuters/Xinhua)