Stocks in Asia rebounded on Wednesday, shaking off earlier Wall Street-led losses as renewed enthusiasm for artificial intelligence and semiconductors breathed fresh life into China's tech-led rally.

In Hong Kong, the Hang Seng Index gained 1.37 percent to close at 26,518. Alibaba jumped 9 percent after CEO Eddie Wu unveiled plans to ramp up AI spending by about US$53 billion.

"The industry's development speed far exceeded what we expected, and the industry's demand for AI infrastructure also far exceeded our anticipation," Wu told an audience at the firm's annual developer conference in Hangzhou.

"We are actively proceeding with the 380 billion (yuan) investment in AI infrastructure, and plan to add more," he added.

"To embrace the arrival of the ASI (artificial superintelligence) era, the energy consumption scale of Alibaba Cloud's global data centres will increase by tenfold by 2032, compared with 2022, the first year of GenAI."

There were also gains in Tencent, JD.com and Meituan.

The Shanghai Composite Index rose 0.83 percent to 3,853 and the Shenzhen Component Index closed 1.8 percent higher at 13,356.

Elsewhere in Asia, Tokyo, Jakarta, Bangkok and Wellington rose, but Sydney, Seoul, Singapore and Manila slipped. (Agencies)