The Hang Seng Index rose 1 per cent to 25,882.59 as of 10.01am local time, heading for the highest close since October 26, 2021. The Hang Seng Tech Index gained 1.4 per cent.
On the mainland, the CSI 300 Index was little changed and the Shanghai Composite Index added 0.2 per cent.
Gold producer Zijin Mining Group rallied 3.3 per cent to HK$28.66 after gold futures topped US$3,600 an ounce. HSBC Holdings, the biggest component of the Hang Seng Index, rose 0.4 per cent to HK$102.10. Alibaba Group Holding added 2.4 per cent to HK$140.70 and Tencent Holdings gained 1.1 per cent to HK$624.
Money-market traders had now priced in an 89.4 per cent probability of a 25-basis-point reduction by the Fed at its policy meeting on September 18, according to the CME Group. The odds of a half-point cut were 10.6 per cent, the data showed.
The S&P 500 and the Nasdaq Composite Index closed at record highs on Monday despite concerns about a deteriorating labour market and frothy stock valuations.
