Hong Kong stocks soared Wednesday as investors returned from a public holiday to play catch-up with a global rally fueled by easing concerns about central bank interest rate hikes.

The Hang Seng Index climbed 5.90 percent, or 1,008.46 points, to 18,087.97, having gained more than 6 percent at one point.

Chinese mainland markets are closed all week for the national holiday.

The surge came in line with an advance across world markets after months of hefty losses on hopes that central banks may be close to slowing down the pace of rapid monetary tightening.

Tech firms were among the biggest winners, with e-commerce titan Alibaba rising more than 8 percent, Tencent up nearly 6 percent, NetEase more than 8 percent higher and JD.com soaring more than 10 percent.

Elsewhere, MSCI's broadest index of Asia-Pacific shares outside Japan was up 2.3 percent. Yields on 10-year U.S. Treasuries, which move inversely to prices, are down 12 basis points just this week.

(With input from AFP, Reuters)