Hong Kong Stocks Rally on Fed Rate Outlook; Developers, Tech Lead Gains

Henderson Land, Alibaba lead Hong Kong stocks higher after Fed signals rate hikes may be near end.

Hang Seng Index posts biggest gain in a week, jumping 0.8% as tech stocks also rise.

Developers rally after Hong Kong keeps base rate steady following Fed's "dovish pivot."

HSBC, other banks gain after also holding rates; China Construction Bank up 0.4%.

Gains pared late as Yum China, Meituan and other consumer stocks fall on demand concerns.