The Hong Kong stock market snapped a four-day losing streak on Monday, during which the index had fallen more than 750 points, or 4.1 percent.
The Hang Seng Index now sits just above the 18,400-point level, with analysts expecting additional support to carry into the next session.
The global forecast for Asian markets points to mild upside ahead of key economic data due later in the week, though falling oil prices could limit gains.
European and U.S. markets ended mixed and little changed, with Asian markets expected to open in a similar fashion.
The Hang Seng closed sharply higher on Monday, with broad-based gains led by technology stocks and financials.
The index surged 323.43 points, or 1.79 percent, to finish at 18,403.04, after trading between 18,283.56 and 18,573.81 during the session.
Among the active movers, Meituan led gains with a rise of 3.71 percent, while JD.com spiked 2.55 percent and CITIC accelerated 2.53 percent.
China Mengniu Dairy rallied 2.51 percent, Alibaba Health Info soared 2.74 percent, and both ANTA Sports and Xiaomi Corporation jumped 2.40 percent.
On Wall Street, the Dow slumped 115.29 points, or 0.30 percent, to finish at 38,571.03, while the NASDAQ added 93.65 points, or 0.56 percent, to close at 16,828.67.
The S&P 500 rose 5.89 points, or 0.11 percent, to end at 5,283.40, after major averages spent most of the session in negative territory before a late recovery.
Investors locked in recent gains during the first half of the trading day, consolidating positions ahead of key economic data expected later in the week.
The Institute for Supply Management reported that U.S. manufacturing activity unexpectedly contracted at a slightly faster rate in May, adding to cautious sentiment among investors.
The U.S. Census Bureau also reported that construction spending unexpectedly shrank in April, compounding concerns about the strength of the broader economy.
Oil prices fell to a four-month low after OPEC announced it would begin phasing out voluntary production cuts over the coming year.
West Texas Intermediate Crude oil futures for July ended down $2.77, or approximately 3.6 percent, settling at $74.22 a barrel, a move that may weigh on energy-linked equities in the region.
