Hong Kong stocks jumped more than 7% as Chinese state media reported Covid measures for travel will be eased. Shares in the Asia-Pacific also rose after the release of U.S. inflation data in October raised investor hopes that inflation has peaked.
The Hang Seng index jumped 7.74% to close at 17,325.66. The Hang Seng Tech index surged 10.05% to close at 3491.70. In mainland China, the Shenzhen Component added 2.120% to end its session at 11,139.77, while the Shanghai Composite Index gained 1.69% to close at 3,087.29.
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The Nikkei 225 in Japan closed up 2.98% at 28,263.57 and the Topix closed higher at 2.12% to stand at 1,977.76. The Kospi in South Korea ended up 3.37% at 2,483.16 and the S&P/ASX 200 in Australia climbed 2.79% to close at 7,158.
Overnight on Wall Street, stocks saw their biggest rally in two years after October's reading of consumer price index, which inched up just 0.4%Â for the month and 7.7% compared to last year, marking a lowest annual increase since January.
— Sarah Min, Alex Herring contributed to this report