From: Payment methods that you can use with your Apple ID; click here --> https://support.apple.com/HT202631
"Make sure that the billing address for your payment method matches the billing address for your Apple ID. In some cases, you might need to call your bank or financial institution to authorize international or online purchases. You might also need to confirm that the mobile number associated with your payment method is correct."
You apparently can use a card issued in a different country but it has to be billed to you at an address that is in the country to which your iTunes and App Stores are set. You would need to have your Malaysian card billed to you at an Address in HK. This requirement makes it difficult to use a card from a different country. The solution is if you are now living in Malaysia, change the country setting to Malaysia.
This article describes how to change your country setting on everything using your Apple ID and the requirements and results of doing this:
Read how to "Change your Apple ID country or region", click here --> https://support.apple.com/HT201389