Xiaomi Hits New High As HSI Ends With Gains

Local and regional shares finished higher on Wednesday, shrugging off a potential delay to a US fiscal stimulus package following criticism by the country's outgoing president Donald Trump.

The Hang Seng Index gained 223 points or nearly 0.9 percent, to close at 26,343, on turnover of HK$129.2 billion.

Xiaomi was the day's winner on the blue-chip index. The mainland smartphone maker hit a new high, topping HK$32, before finishing 7.6 percent higher at HK$31.90.

Meituan surged 3.9 percent, despite news that Beijing is tightening its regulation on community group buying which allows people to buy in bulk with discounts with their neighbours. But Alibaba inched down 0.2 percent.

Shares of Next Digital jumped 7.3 percent on following a court decision to grant bail to its founder Jimmy Lai, who had been in custody over fraud and national security charges.

Across the border, the Shanghai Composite Index and the Shenzhen Composite Index each advanced about three-quarters of 1 percent, while the blue-chip CSI300 index added 0.9 percent.

Around the region, Tokyo's Nikkei put on 0.3 percent. The Kospi in Seoul was up 1 percent. Sydney climbed two-thirds of 1 percent. Taiwan gained more than 0.3 percent and Singapore was up slightly.