Saurav Ghosal, meanwhile, became the first Indian male squash player to reach the men's singles final of the prestigious event.
The two Indian women made the final of the tournament with contrasting victories today.
While Pallikal, seeded fourth, upset top seed Annie Au of Hong Kong 11-9 7-11 11-7 11-9, the second seeded Chinappa made short work of Hong Kong's sixth-seed Tong Tsz Wing 11-6 11-4 11-8 to storm into the final.
Starting brilliantly against the pre-tournament favourite, Pallikal took the opening game to lay down the marker. However, Au came back strongly to claim the second game with a series of impressive stroke-making.
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Pallikal seized the initiative from thereon and kept Au off balance by staying aggressive.
The Chennai-based Pallikal closed out the match for a memorable win.
With this victory, Pallikal has posted only her third win over the Hong Kong player, ranked 11th in the world, in 10 meetings.
Chinappa, meanwhile, completely dominated her rival as she took the first two games easily before Wing posed a challenge in the third.
Ghosal proved too strong for the fifth seeded Leo Au of Hong Kong as he won 11-6 11-7 11-3.
The second seeded Indian never allowed Leo Au to settle down. Mixing aggression with finesse, Ghosal captured the first game in no time.
However, the second game witnessed the two fight on level terms before Ghosal managed to prevail over his rival again.
In the third game, the Indian number one sailed through.
Ghosal will take on top seeded Max Lee of Hong Kong in final.
Disclaimer: No Business Standard Journalist was involved in creation of this content