Hong Kong equities advanced on Wednesday, with the Hang Seng Index rising 0.8% to 25,698 on HK$269.12 billion in turnover, equivalent to approximately $8.4 billion. Biotech shares led the advance after Moderna's mRNA-based personalized cancer vaccine achieved a major breakthrough in late-stage clinical trials, sending Moderna 176% higher in overnight U.S. trading. Everest Medicines surged 41.43%, while 3D Medicines, CanSino Biologics and GenScript Biotech also posted sharp gains. Gold-related stocks rallied after spot gold briefly moved above $4,500 an ounce. The Hang Seng China Enterprises Index rose 0.9% and the Hang Seng Tech Index added 0.39%. The session contrasted with valuation concerns in the United States, where Warren Buffett said it was "tough to find value when everybody is preferring gambling."