The Hang Seng Index advanced 1 per cent to 26,204.30 as of 11.15am local time, poised for the highest close since September 10, 2021. The Hang Seng Tech Index gained 1.7 per cent.
On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.2 per cent.
Technology stocks led the gains after Oracle surged to a record in the US amid robust demand for artificial-intelligence infrastructure. Search engine operator Baidu gained 3.5 per cent to HK$109.70. Alibaba Group Holding jumped 2.2 per cent to HK$145 and Tencent Holdings advanced 1.6 per cent to HK$637.
Consumer prices in China dropped 0.4 per cent year on year in August, the first decline in three months, according to data from the National Bureau of Statistics on Wednesday. It was steeper than the consensus estimate of a 0.2 per cent decrease. Consumer prices were unchanged in July.
