China and Hong Kong stocks have opened higher, on track for their best week in a month, as investors await details of Beijing’s fiscal stimulus some expect will be forceful in the face of tariff threats from US president-elect Donald Trump, Reuters reports.

The sentiment was also aided by a bullish Wall Street performance overnight as the Federal Reserve cut interest rates by 25 basis points (bps) as expected, adding fuel to a rally sparked by Trump’s election victory.

Both China’s blue-chip CSI300 Index .CSI300 and the Shanghai Composite Index .SSEC opened roughly one per cent higher. In Hong Kong, the benchmark Hang Seng Index gained 1.2pc.