Hong Kong stocks rose 189 points, or 0.7%, to 26,626 in early trade on Wednesday, rebounding from a muted close the day before as gains in tech and consumer shares lifted sentiment. The benchmark index hit its highest in over four years ahead of a widely expected Fed rate cut later in the day and the prospect of further easing this year. Investors also awaited Friday’s call between President Trump and Xi Jinping after Washington and Beijing agreed on a framework to place TikTok under U.S.-controlled ownership. Optimism over China’s progress in AI, semiconductors, and drug innovation also boosted sentiment, helping offset concerns about the trade war and U.S. tech bans. Meanwhile, Chery Automobile filed for a Hong Kong IPO to raise up to HKD 9.15 billion. The tech index jumped around 2%, led by SMIC (4.4%), Meituan (4.1%), and Kuaishou Tech (1.9%). Upside was limited, however, by data showing the city’s jobless rate held at a near three-year high of 3.7% in the three months to August.