"I believe it will have an impact on China's longer term economic growth rather than on the stock market," said Luo Kun, investment manager at Chasing Securities' equities investment arm.
At the close of trade, the Hang Seng index was up 578.62 points, or 2.18%, at 27,147.11, its highest close since Feb. 21. The Hang Seng China Enterprises index rose 2.05% to 10,662.93.
Nasdaq said last week it will remove shares of four Chinese construction and manufacturing companies from indexes it maintains in response to a US order restricting purchase of their shares.