Hong Kong stocks closed higher Friday, rebounding as technology shares advanced, even as global investors remained cautious about elevated energy prices.

The Hang Seng Index gained 425.56 points, or 1.8%, to close at 24,211.35, while the Hang Seng China Enterprises Index rose 137.29 points, or 1.7%, to finish at 8,147.87.

Brent crude futures fell 1.2% to $103.05 a barrel after rising more than 4% in the previous session, as uncertainty over the Middle East conflict continued to stoke inflation concerns and expectations of higher interest rates.

Investors also weighed plans by major technology companies, including SpaceX, Broadcom and Oracle, to raise billions of dollars to fund AI infrastructure.

Higher borrowing costs have raised concerns about the expense of financing the sector's expansion and the sustainability of valuations.

In corporate news, Beijing ESWIN Computing Technology (HKG:1256) closed 1% lower at HK$1.53, compared with the offer price of HK$1.55.