HONG Kong shares have closed 0.96 per cent higher, taking a strong cue from Wall Street, where the Dow closed at a record high.
The benchmark Hang Seng Index added 217.34 points on Wednesday to 22,777.84 on turnover of HK$73.25 billion ($A9.27 billion).
The Dow finished Tuesday 0.89 per cent higher at 14,253.77, beating by nearly 90 points its former record on October 9, 2007, just before the onset of the global financial crisis.
The surge on the Dow comes despite uncertainty in the US economy and as Washington battles over how to trim its huge deficit. Shares were also helped by a pick up in the country's services sector.
Also on Wall Street, the S&P 500 climbed 0.96 per cent to close at 1,539.79, just two per cent short of its own record.
Shares of China developers rebounded following two days of falls after Beijing announced new measures to curb rising property prices.
China Overseas Land rallied 3.3 per cent to HK$22.05 and China Resources Land rose 1.7 per cent to HK$20.55.
Telecom equipment maker ZTE jumped 8.9 per cent to HK$14.14 and Comba Telecom surged 11.7 per cent to HK$2.87 after media reports that China will likely issue licences for firms to provide fourth-generation wireless services this year.
Standard Chartered climbed 1.9 per cent to HK$214.80 after the emerging markets-focused bank posted solid profits on Tuesday despite being hit by fines in the US for violating sanctions on Iran and other countries.
Chinese shares ended up 0.9 per cent. The benchmark Shanghai Composite Index jumped 20.87 points to 2,347.18 on turnover of 125.4 billion yuan ($A19.81 billion).
"The Dow Jones Industrial Average hit a record high and this may have lifted sentiment in the domestic stock market. Banking stocks also performed well," Haitong Securities analyst Zhang Qi told AFP.
The index in the past two days has recouped most of the 3.65 per cent losses it suffered on Monday after the government unveiled the new measures to cool the property market.
Banks extended gains on expectations for 2012 earnings. China Minsheng Banking jumped 3.43 per cent to 10.55 yuan, Industrial Bank gained 1.98 per cent to 20.56 yuan and China Everbright Bank added 0.89 per cent to 3.40 yuan.
Telecom operators rose on reports about 4G licences. Eastern Communications surged 7.38 per cent to 4.95 yuan and China Unicom gained 2.31 per cent to 3.55 yuan.
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