HONG KONG: Hong Kong shares enjoyed a much-needed relief rally Wednesday on signs of an easing in tensions between Russia and Ukraine and following data that showed Chinese inflation appeared to be stabilising.

The Hang Seng Index rose 1.31 percent, or 319.92 points, to 24,675.63.

The Shanghai Composite Index added 0.57 percent, or 19.74 points, to 3,465.83, while the Shenzhen Composite Index on China's second exchange gained 0.59 percent, or 13.36 points, to 2,296.99.