By Scott Murdoch and Donny Kwok SYDNEY (Reuters) -Midea Group stock jumped by up to 9.5% on its trading debut in Hong Kong on Tuesday after the Chinese home appliances maker raised nearly $4 billion in the city's largest share offering in almost four years,

Chinese appliance maker Midea Group Co.’s $4 billion listing in Hong Kong is fueling cautious optimism that the worst of the city’s capital markets drought may be coming to an end.

Asian equities were mostly higher overnight while Mainland China was closed for the Mid-Autumn Festival. Japan, South Korea, Indonesia, and Malaysia were also closed.

Hong Kong shares inched up in holiday-thinned trade on Monday, reversing early losses, with another batch of underwhelming Chinese economic data capping gains. At the close of trade, the Hang Seng index was up 53.

A gauge of Chinese stocks listed in Hong Kong swung to a gain in volatile trading as investors debated whether weaker macro data will prompt the government to bolster stimulus.