Mainland Chinese and Hong Kong stocks rose broadly on Tuesday, led by healthcare and consumer shares, as market sentiment improved after Beijing cut key lending rates for the first time since October.

In Hong Kong, the benchmark Hang Seng Index ended the day up 348.76 points, or 1.49 percent, at 23,681.48, hovering near a two-month high.

The Hang Seng China Enterprises Index rose 1.52 percent to end at 8,589.08 while the Hang Seng Tech Index rose 1.15 percent to end at 5,315.56.

At the close, China's blue-chip CSI300 Index was up 0.5 percent, while the Shanghai Composite Index gained 0.4 percent.

China cut benchmark lending rates for the first time in seven months on Tuesday, while major state banks lowered deposit rates as authorities work to ease monetary policy to help buffer the economy from the impact of the Sino-US trade war.

With the recent substantial progress in the US-China tariff negotiations and the announcement of rate cuts, market uncertainty has eased and risk appetite has rebounded, TF Securities said in a note.

Healthcare stocks listed in Hong Kong and mainland A-shares advanced 2.6 percent and 1.4 percent, respectively.

Shares of biotech firm 3SBIO surged more than 30 percent, after the firm signed a licensing deal with US drugmaker Pfizer.

The consumer sector was another outperformer, with Hang Seng SCHK Consumer Discretionary Index gaining 1.2 percent.

Raisah Rasid, global market strategist at JP Morgan Asset Management, said China's comprehensive monetary stimulus package "underscores its focus on stimulating domestic growth and countering external downside risks".

She suggested investors diversify exposure with companies that supported by domestic consumption in Asia.

The smaller Shenzhen index ended up 0.8 percent and the start-up board ChiNext Composite index was higher by 0.77 percent. (Reuters/Xinhua)