Hong Kong stocks closed higher Tuesday as a tech-led rally on Wall Street and lower oil prices supported risk appetite.

The Hang Seng Index rose 240.22 points, or 1%, to close at 24,280.56, while the Hang Seng China Enterprises Index gained 77.30 points, or 1%, to finish at 8,128.97.

Technology shares gained after the Nasdaq hit a record close, with Nvidia up 2.1% to a record high amid continued optimism about artificial intelligence and expectations of strong earnings growth from AI-related companies.

Gulf oil flows excluding Iran rose to more than 81% of pre-war levels last month, while the Group of Seven nations pledged to boost supplies.

Markets further pared expectations for a Federal Reserve rate hike this month, with the probability falling to 23% from 71% a week earlier.

In corporate news, Pan Asia Data (HKG:1561) surged 105% after entering into a supplemental memorandum of understanding with PC Dynamic and Power Circles to amend the terms of a proposed restructuring.