Hong Kong stocks rose on Tuesday, rebounding from a rout in the previous session, as Chinese state funds intervened by purchasing exchange-traded funds (ETFs) to prop up the market.

The Hang Seng Index climbed 1.51%, or 299.38 points, to end at 20,127.68. The Hang Seng China Enterprises Index added 2.31%, or 167.90 points, to 7,430.62.

Central Huijin Investment, a unit of China's sovereign wealth fund, purchased various ETFs and will continue to make such investments to maintain stability, the South China Morning Post reported.

Two other state-backed firms, China Chengtong Financial and Beijing Chengyang Investment, also said they were purchasing ETFs to stabilize the market and ease investor concerns.

The developments overshadowed Washington's threat to apply an additional 50% levy on top of the current 54% tariff on China if Beijing doesn't withdraw its counter tariff of 34%.

In corporate news, several Hong Kong firms released statements about the expected impact of new US tariffs on their operations.

Metal products maker Karrie International Holdings (HKG:1050), resin lens manufacturer Shanghai Conant Optical (HKG:2276), and IT firm VSTECS (HKG:0856) said the US tariffs would have minimal impact on their businesses.

Shares of Shanghai Conant Optical and VSTECS closed over 5% and 8% higher, respectively.

The Hong Kong government also vowed to provide business assistance and facilitate market expansion and industry upgrades to counter the US tariffs, according to a report by The Standard.