The Hang Seng Index gained 1.6 per cent to 25,836.06 as of 10.12am local time, rebounding from a nearly 7 per cent drop over the past seven trading days. The Hang Seng Tech Index rallied 1.8 per cent.
On the mainland, the CSI 300 Index and the Shanghai Composite Index both added 0.4 per cent.
China Life Insurance advanced 3.7 per cent to HK$272.60 and Pop Mart International gained 3.4 per cent to HK$271.60. Alibaba Group Holding rallied 2.4 per cent to HK$159.40 and Tencent Holdings added 0.7 per cent to HK$625.50.
Fed Chair Jerome Powell signalled that the world’s largest central bank may deliver a quarter-point rate reduction at its October policy meeting, citing labour market weakness during a recent conference. The Fed’s open-market committee will meet on October 30.
Meanwhile, China’s deflationary pressure showed signs of easing. Producer prices fell 2.3 per cent in September year on year, narrowing from a 2.9 per cent decline a month earlier, the National Bureau of Statistics said on Wednesday. Consumer prices fell 0.3 per cent, compared with a 0.4 per cent drop in August.
