Hong Kong stocks rallied at the opening on Tuesday as traders returned from an extended weekend to news of an uptick in US inflation that appeared to do little to alter the Federal Reserve's plan to cut interest rates this year.

The Hang Seng Index climbed 1.63 percent, or 270.32 points, to 16,811.74.

The Shanghai Composite Index was barely moved, inching down 0.50 points to 3,076.88, while the Shenzhen Composite Index dipped 0.11 percent, or 1.93 points, to 1,787.32.

With Easter Monday being a holiday in Hong Kong, Tuesday is the first trading day of the SAR's financial year. (AFP)