SHANGHAI - Hong Kong shares tracked a global rally to finish higher on Wednesday, with index heavyweight Alibaba leading a surge in tech firms.

At the close of trade, the Hang Seng Index was up 500.50 points, or 2.06 percent, at 24,829.99. The Hang Seng China Enterprises Index rose 2.47 percent to 8,723.33.

The Hang Seng Tech Index ended 3.65 percent higher, the financial sector rose 1.03 percent and the property sector added 1.09 percent.

Alibaba was the topgainer on the Hang Seng, ending 6.83 percent higher after two days of losses.

It was also the top gainer among H-shares, followed by Kuaishou Technology, which jumped 5.23 percent, and NetEase Inc, which rose 4.88 percent.

Alibaba's rebound came after Japanese conglomerate SoftBank Group Corp said Alibaba's recent registration of additional American Depository Shares was not tied to any specific future transaction by SoftBank.

Meituan rose 3.71 percent and Tencent Holdings gained 2.72 percent.

WuXi Biologics dropped 1.04 percent. The stock had plunged more than 25 percent on Tuesday.

WuXi AppTec fell 4.17 percent in Hong Kong.