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The Hang Seng Index rose 0.8 per cent to 25,933.35 as of 10.09am local time, adding to a 2 per cent gain on Monday. The Hang Seng Tech Index gained 1.8 per cent.
On the mainland, the CSI 300 Index climbed 1 per cent and the Shanghai Composite Index added 0.9 per cent.
Xiaomi, the maker of smartphones and electric vehicles, rallied 4.8 per cent to HK$40.50 after founder Lei Jun committed HK$100 million (US$13 million) to booting his stake in the company. Alibaba Group Holding gained 2.7 per cent to HK$158.70 before its quarterly result later on Tuesday. Affiliate Alibaba Health Information Technology advanced 4.4 per cent to HK$5.99.
Fed governor Christopher Waller indicated that a reduction in borrowing costs was still on the cards in December. New York Fed President John Williams made a similar comment, saying that he saw the possibility of a near-term rate cut at the Fed’s policy meeting on December 11. San Francisco Fed President Mary Daly also backed a cut, she said in an interview on Monday.
Other major Asian markets mostly traded higher. Japan’s Nikkei 225 climbed 0.6 per cent as trading resumed after a public holiday, while South Korea’s Kospi rose 1 per cent. Australia’s S&P/ASX 200 lost 0.2 per cent.
