The Hang Seng Index jumped 2.5 per cent to 17,664.12 at the closing of Friday trading, the biggest gain in two months. The Tech Index soared 3.3 per cent while the Shanghai Composite Index added 0.7 per cent.

Tencent advanced 4.9 per cent to HK$302.60, Alibaba Group gained 2.9 per cent to HK$82.85 and e-commerce peer JD.com jumped 3.7 per cent to HK$103.10. Sun Hung Kai Properties rallied 2.7 per cent to HK$84.80 and Henderson Land advanced 3.3 per cent to HK$22.20, leading gains among local developers.

“Sentiment is getting better this week as negative factors, such as Fed uncertainty and geopolitical tensions, have started to subside,” said Kenny Wen, head of investment strategy at KGI Securities. China’s weak recovery and property crisis could undermine the market rebound, he added.

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HKMA to mark 30th anniversary with global financial heavyweights summit, says CEO Eddie Yue

HKMA to mark 30th anniversary with global financial heavyweights summit, says CEO Eddie Yue

Elsewhere, Beijing Ubox Online Technology jumped 40 per cent to HK$14.58 on its first day of trading in Hong Kong, while Jiangxi Bestoo Energy surged 753 per cent to 38.90 yuan in Shenzhen.

Other major Asian markets advanced on Friday. Japan’s Nikkei 225, Australia’s S&P/ASX 200 and South Korea’s Kospi all gained 1.1 per cent.