Hong Kong shares end higher after Wall Street's tech bounce

Hong Kong shares emulated Wall Street's rebound to end higher on Wednesday, though persistent investor concerns about the prospects of fresh Sino-U.S. trade tensions and a slower-than-expected global economic growth capped gains.

At the close of trade, the Hang Seng index was up 25.66 points or 0.11pc at 23,742.51, with the IT sector rising 1.24pc. The Hang Seng China Enterprises index fell 0.19pc to 9,558.78.

Wall Street stocks rebounded on Tuesday, led by a jump in Amazon, even as a likely delay in new fiscal stimulus by Congress and an increase in the number of coronavirus cases dampened hopes of a faster economic recovery.

Chicago Federal Reserve President Charles Evans said on Tuesday the U.S. economy risks a longer, slower recovery and "recessionary dynamics" if Congress fails to pass a fiscal package to support out-of-work Americans and state and local governments.

Developments in the Sino-U.S. relations remained a key market focus, with some analysts expecting any major moves to affect investor sentiment.

U.S. President Donald Trump told the United Nations General Assembly that China must be held accountable for having "unleashed" COVID-19 on the world. Beijing accused him of "lies" and abusing the U.N. platform to provoke confrontation.

China stocks ended higher on Wednesday, underpinned by gains in tech-heavy start-up board ChiNext and healthcare shares, after the state planner said the country would accelerate development of coronavirus vaccines.

The top gainer on the Hang Seng was Sino Biopharmaceutical Ltd, which gained 2.53pc, while the biggest loser was Bank of Communications Co Ltd, which ended 2.62pc lower.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.01pc, while Japan's Nikkei index closed down 0.06pc.

The yuan was quoted at 6.793 per U.S. dollar at 0807 GMT, 0.17pc weaker than the previous close of 6.7818.