Captain Kary Chan took two wickets as Malaysia were pegged back to 101 for five. She then brought Hong Kong to the winning target with 14 balls to spare, ending the match with a top-score of 38 not out.
The SAR team and Nepal both now have two wins from three games. But the UAE can make it three wins from three when they play Bhutan later on Thursday. Only the top team goes through to the global qualifiers.