Hong Kong shares rallied at the start of business on Thursday as traders cheered a sharp interest rate hike by the Federal Reserve that analysts said signalled its determination to fight inflation.

The Hang Seng Index added 0.97 percent to 21,515.

The Shanghai Composite Index was more muted, edging up 1.43 points to 3,306, while the Shenzhen Composite Index was also flat, inching 0.63 points higher to 2,099. (AFP)