Hong Kong stocks open higher

Local and regional stocks rose on Wednesday following Wall Street's gains as early indications from the corporate earnings season pointed to strong profits for global companies and bolstered investor confidence. Hong Kong's Hang Seng Index rose 271 points, or 1.14 percent, to open at 24,139. The benchmark Shanghai Composite Index opened 0.14 percent higher at 3,740. The Shenzhen Component Index opened 0.32 percent higher at 11,838. Japan's Nikkei 225 climbed 1.3 percent. Stocks in the region have steadied since a wrenching selloff last week but have traded in a tight range since then. "Global equities were mixed, with solid earnings supporting US markets while ongoing concerns around the AI trade and elevated oil and borrowing costs weighed more heavily elsewhere," Westpac analysts wrote in a note. (Additional reporting by Reuters) Edited by Edmond Fong