Hong Kong stocks rallied on Wednesday on the back of a surge in tech giants including Alibaba and Tencent, while investors were preparing for the release of key US inflation data later in the day.

The Hang Seng Index jumped 1.9 percent, or 311 points, to 17,139.

The Shanghai Composite Index fell 0.7 percent, or 21 points, to end the day at 3,027, while the Shenzhen Composite Index dropped 1.7 percent, or 30 points, to 1,720. (AFP)