Hong Kong stocks jump on rescue package hopes; Alibaba surges

Hong Kong stocks opened higher on Wednesday as Beijing's potential rescue fund and Jack Ma scooping up Alibaba Group shares lifted market sentiment.

Hang Seng Index rose more than 2% in early trade, and the Hang Seng Tech Index jumped 2.3%, with shares of Alibaba surging 5.5%. Meanwhile, China's CSI 300 was largely flat.