Investor optimism was bolstered by the appointment of a pro-Wall Street treasury secretary by the US president-elect, alongside momentum from upcoming Black Friday and Cyber Monday sales.

The Australian sharemarket reached an all-time high for the second consecutive day, with the S&P/ASX 200 Index closing at 8417.60, reflecting a 0.3% increase from the previous record.

Most sectors experienced gains, particularly in mining, energy, and technology, although financial stocks showed weakness, with major banks like ANZ and Westpac declining.

At midday, all sectors of the ASX were up except for financials, which remained flat due to losses in major banks, including ANZ, National Australia Bank, and Westpac.

Major miners such as BHP Group and Rio Tinto saw mixed results despite stronger iron ore prices, with BHP remaining flat and Fortescue Metals increasing.

Technology stocks performed well, with notable increases from Afterpay owner Block and Xero, while WiseTech Global faced a slight decline.

In Asia, Japan's Nikkei 225 and Topix indices rose by 1.19% and 0.83%, respectively, while South Korea's Kospi and Kosdaq also posted gains.

Air New Zealand's shares rose 3.2% after announcing a positive earnings outlook for the first half of the fiscal year, contrasting with previous operational difficulties.

The energy sector also saw gains, partly due to stable oil prices amidst ongoing tensions in the Ukraine-Russia conflict.

In currency trading, the AUD/USD remained stable at 0.65, while the USD/JPY pair fell to 153.04, indicating a mixed performance in the foreign exchange market.

In commodities, February gold futures fell by 1.55% to $2,694.85 per troy ounce, while crude oil prices for January delivery dropped slightly.

Despite the overall market rise, 85 stocks in the ASX 200 are still down for the year, including major companies like BHP and Woolworths.