European stocks closed higher Tuesday, aided by gains for airline easyJet PLC and car maker Volkswagen AG, as investors appeared to set aside concerns about the possibility of a new election in Germany. Equity markets in the region rose as major U.S. stock gauges rallied, with a leap in technology shares pushing the Nasdaq Composite Index COMP, +1.06% to an all-time high.

U.S. stock-market indexes ended at records and near session highs on Tuesday, finding support on another round of strong earnings, with technology shares leading the way. Investors focused on a number of corporate earnings and positive economic data. Trading volumes were expected to thin out this week as investors prepare for the long weekend following Thanksgiving holiday.

Global stocks extended their rally early Wednesday in Asia, with technology shares fueling the gains. The region saw broad advances, with Hong Kong's stock benchmark topping 30,000 for the first time in a decade, as the Hang Seng Index HSI, +0.90% continued its push toward late 2007's intraday record of 31,958.41.