** At the close of trade, the Hang Seng index was up 0.8% at 28,431.80. The Hang Seng China Enterprises index also rose 0.8%.

** The sub-index of the Hang Seng tracking energy shares  rose 1.9%, the IT sector eased 0.3%, the financial sector ended 0.8% higher and the property sector rose 1.1%.

** The top gainer in Hang Seng was Sunny Optical Technology Group Co Ltd, which gained 3.2%, while the biggest loser was Geely Automobile Holdings Ltd, down 1.5%.

** Fed's Powell on Wednesday paved the way for the first U.S. interest rate cut in a decade later this month, pledging to "act as appropriate" to defend an economic expansion threatened by trade disputes and a global slowdown.

** The Hong Kong Dollar is pegged to the greenback at a tight range of 7.75-7.85 and its base rate moves lockstep with U.S. rates.

** Powell's remarks sent stocks higher around the region. MSCI's Asia ex-Japan stock index was firmer by 0.8%, while Japan's Nikkei index closed up 0.5%.

** China will release its second-quarter gross domestic product (GDP) data on Monday, July 15.

** Growth is expected to slow to a near 30-year low of 6.2% this year, a Reuters poll showed on Wednesday, despite a flurry of support measures to spur domestic demand to offset the trade war's impact. Some economists said they expected Beijing to roll out more stimulus soon to ward off a sharper slowdown.

** Analysts say the Chinese central bank could cut its benchmark policy rate for the first time in four years if the Fed delivers a widely expected cut, as Chinese policymakers step up support for the slowing economy.

** About 1.1 billion Hang Seng index shares were traded. The volume traded in the previous trading session was 1.04 billion.

** At close, China's A-shares were trading at a premium of 27.7% over Hong Kong-listed H-shares.