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The Hang Seng Index climbed 0.4 per cent to 26,885.86 at 10.20am local time, paring some of the 2.2 per cent loss recorded in the previous session. The Hang Seng Tech Index fell 0.9 per cent. On the mainland, the CSI 300 Index lifted 0.3 per cent and the Shanghai Composite Index added 0.5 per cent.
Online-game provider NetEase jumped 1.7 per cent to HK$201, while online travel-booking agency Trip.com rose 1.4 per cent to HK$484.20. E-commerce major Alibaba Group Holding added 1.3 per cent to HK$165.40, and gold miner Zijin Mining Group gained 2.2 per cent to HK$40.44.
Limiting gains, search-engine firm Baidu dropped 5 per cent to HK$139.50, and short-video sharing platform Kuaishou Technology slid 4.6 per cent to HK$73.50. Smartphone and car maker Xiaomi fell 0.5 per cent to HK$34.90.
Overnight in the US, the S&P 500 Index rose 0.5 per cent and the Dow Jones Industrial Average gained 1.1 per cent. Sentiment improved after US President Donald Trump said he would cut tariffs on India to 18 per cent after Prime Minister Narendra Modi agreed to halt purchases of Russian oil. Gold prices later jumped 2.8 per cent and silver surged 4.5 per cent, snapping a three-day losing streak.
“Asia walked back onto the floor this morning like a market that just lived through a margin-call scare and realised the building is still standing,” said Stephen Innes, managing partner at SPI Asset Management, in a note. “Screens were greener, nerves steadier and the price action had the feel of a system reboot rather than a fresh regime.”
