Hong Kong stocks jumped for a second successive day on Wednesday after news that Alibaba's co-founders had bought a huge stake in the market heavyweight, while Beijing said it would cut the amount of cash banks must keep in reserve, to boost lending.

The Hang Seng Index surged 3.6 percent, or 545 points, to 15,899.

The Shanghai Composite Index advanced 1.8 percent, or 49 points, at 2,820, and the Shenzhen Composite Index rallied 1.3 percent, or 20 points, to 1,646. (AFP)