HSI Leads Regional Gains, Up Nearly 800 Points

Local stocks put on healthy gains on Wednesday thanks to fresh optimism towards coronavirus vaccines and global economic recovery.

The Hang Seng Index opened slightly higher following Tuesday's losses and was robust throughout the day.

It finished 784 points or 2.7 percent up at 29,880.

Turnover dropped to HK$185 billion.

Gaming and mainland banking stocks led the rally, with Galaxy Entertainment surging more than 7 percent and Sands China gaining over 5 percent.

ICBC and China Construction Bank each rose more than 5.5 percent.

Markets across the border posted their biggest one-day gains in three weeks, as investors await the start of the country's annual parliamentary meetings in Beijing on Friday.

The Shanghai Composite Index and the blue-chip CSI300 index each jumped about 2 percent, and the Shenzhen Composite Index rose 1.3 percent.

Regional markets edged higher as well thanks to optimism towards economic growth.

South Korea extended their gains to close more than 1 percent higher, while Taipei was up over 1.6 percent. Japan's Nikkei rose half a percent, and Australia climbed 0.8 percent as strong GDP growth there boosted hopes for a strong recovery this year.