Chinese stocks in Hong Kong are back to rallying after a one-day dip, with investors pinning hopes that data on the nation’s holiday spending will provide more impetus for the market.

Hong Kong’s equity market surged to a 20-month high on Wednesday as the rally ignited by Beijing’s raft of stimulus measures continued to lift Chinese stocks.

Hong Kong stocks surged for a sixth day on Wednesday, amid growing optimism that Beijing's sweeping stimulus package could reboot the world's second-largest economy and fix the country's property market. The benchmark Hang Seng Index surged 6.2 percent on Wednesday, closing at 22,443.73 points, its highest for the past 20 months.

Hong Kong’s long-dormant currency has come out of hibernation, as demand soars following a remarkable rally in Chinese stocks listed on the city’s bourse.

Oil prices rose further Friday as tensions mount in the Middle East, while Hong Kong's stock markets resumed a rally caused by China's recently-announced measures to stimulate its economy.

Alibaba and JD.com are competing for Hong Kong market share amidst China's stimulus plans. Baidu, PDD, NIO, Li Auto, XPeng, and ZEEKR are also affected.

Asia-Pacific markets traded mixed on Friday, though Hong Kong's Hang Seng index is up over 2%, resuming its rally.

Asia-Pacific markets are set to open lower on Friday, tracking losses on Wall Street as concerns over Middle East tensions kept investors on edge.