SHANGHAI: China’s blue-chip stock index closed higher on Thursday, posting its biggest jump in more than 3 months, as softer-than-expected US inflation data prompted bets of less aggressive rate hikes from the Federal Reserve.

Big tech companies listed in Hong Kong snapped a three-day losing streak, helping the city’s main stock benchmark rise the most in nearly one month.

The blue-chip CSI300 index ended 2.0% higher, while the Shanghai Composite Index gained 1.6%.

The Hang Seng index rose 2.4%, while the China Enterprises Index gained 2.7%.

Foreign investors bought more than 13.2 billion yuan ($1.96 billion) of Chinese stocks via the Stock Connect scheme, the highest in nearly two months.