HONG KONG, Nov 1, 2022 (BSS/AFP) - Hong Kong stocks rallied more than three percent in the morning session Tuesday ahead of a key Federal Reserve policy meeting later in the week.

The Hang Seng Index jumped 3.31 percent, or 486.53 points, to 15,173.55.

The rally is in line with a surge across Asia as investors await the Fed's announcement on Wednesday, with hopes it will hint at a slowdown in the pace of rate hikes.

Tech firms were among the biggest winners -- led by Alibaba and Tencent -- on bargain-hunting after a hefty sell-off saw some of the market's biggest firms plunge this year, while Xi Jinping's tightened grip on power in China added to fears of another crackdown on the sector.