The Hang Seng Index gained 150 points, or 0.62 percent, to open at 24,327 points on Wednesday.

Mainland stocks were mixed, with the benchmark Shanghai Composite Index down 0.04 percent to open at 3,419 points, and the Shenzhen Component Index opening 0.22 percent higher at 10,240 points.

It comes after US stocks surged overnight as investors welcomed the news of a ceasefire agreement that could bring an end to the Middle East conflict which has unsettled markets in recent weeks.

Markets also drew support from US Federal Reserve Chair Jerome Powell's testimony to Congress, where he said the Fed could cut interest rates "sooner rather than later," even as he stressed the need to monitor the effects of tariff-driven inflation. (Xinhua)