Hong Kong stocks opened sharply higher on Thursday, tracking gains across global markets after the U.S. midterm election results eased political uncertainty and boosted investor sentiment.

The Hang Seng Index gained 1.7%, or 397.44 points, to 24,316.94, while the Hang Seng China Enterprises Index advanced 1.5%, or 116.79 points, to 8,174.38.

Brent crude plunged nearly 9% to settle at $94.62 a barrel amid shifting expectations for the Iran and Ukraine conflicts.