Hong Kong shares finished more than one percent higher on Wednesday as worries over the US banking sector eased and investors turned their attention back to Federal Reserve rate hikes to tame inflation.

The Hang Seng Index climbed 1.5 percent, or 291 points, to 19,539.

The Shanghai Composite Index rose 0.6 percent, or 18 points, to 3,263, while the Shenzhen Composite Index gained 0.3 percent, or 5 points, to 2,081. (AFP)