Tokyo share prices bounced back 2.4 per cent on bargain-hunting as investors welcomed the Nasdaq rally. The Tokyo Stock Exchange's key Nikkei-225 index gained 372.18 points to finish at 16,099.67. Hi-techs and bank issues led the comeback from a 846.10-point slide in the previous four days.

"The Nasdaq sprang back just when the market began to feel that share prices have gone low enough for now," said Sakura Securities equity Chief Tsuyoshi Segawa. "Brokerage dealers did not hesitate to follow the Nasdaq up," he added. The Nasdaq closed Monday 2.8 per cent higher with Internet-related and other hi-tech stocks leading the way.

Hong Kong: Share prices rose 0.3 per cent following stronger US and Japanese markets, with buying focused on telecommunications stocks. "The market remains strong on the stronger Japanese market and overnight gains on Wall Street," said Ricky Tam, research director at Pacific Challenge.

The key Hang Seng index gained 56.47 points to close at 16,897.45, after being 1.1 per cent higher in early trade, on turnover of 15.32 billion Hong Kong dollars ($1.96 billion). Dealers said China Mobile was the key support for the Hang Seng index, which still finished below the 17,000 point resistance level.

Singapore: Share prices rose 1.1 per cent after late profit-taking pared back a technical rebound. The Straits Times Index closed 22.87 points higher at 2,074.08, and the broader All-Singapore Equities Index added 4.02 points to close at 554.52.

The gains were technical in nature and unlikely to last into the coming days, a dealer at a local brokerage said. "There's not much action in the market. Any rebound was met by plenty of sellers." Even the advance in some big-cap issues is unconvincing, given the low volume, he added.

Kuala Lumpur: Malaysian shares ended 0.7 per cent higher on a technical rebound after recent losses and some bargain-hunting. The Kuala Lumpur Stock Exchange composite index closed up 5.76 points at 804.59.

A dealer with a local brokerage said the technical rebound was expected as the market had been grossly oversold. Selling by foreign funds which had turned negative on Malaysia also seemed to have eased, he added.

Seoul: South Korean share prices rose 3.0 per cent on strong foreign buying in blue chip stocks. The Korea Stock Exchange index closed up 21.13 points at 727.10. Volume was 296.1 million shares worth 2.3 trillion won (2.05 billion dollars).

The index extended gains towards the close as renewed foreign interest pushed up blue chips, especially Samsung Electronics, dealers said. "The Philadelphia semiconductor index rebounded in two consecutive sessions and Micron Technology also rose on Nasdaq, reviving foreign interest in the local stock market," said LG Investment and Securities Kim Jeong-Hwan.

Bangkok: The Thai stock market rose 3.8 per cent on bargain-hunting in blue-chips, due to gains in the local currency. The Stock Exchange of Thailand (SET) composite index rose 10.82 points to close at 295.49 and the SET 50 index was up 0.91 points at 20.73.

Thai Sakura Securities analyst Anothai Chiangtawan said there was buying in blue-chips due to the stronger baht. "We expected some foreign investors to re-enter to the market after the recent heavy selling. However, I am uncertain whether they (foreign investors) will stay in the market or not," he said.

Jakarta: Indonesian share prices closed 0.5 per cent lower after a bomb blast outside the Philippine ambassador's residence erased early morning gains. The composite index closed down 2.516 points at 489.677, off a high of 496.733 on volume of 372.7 million shares valued at 301.68 billion rupiah ($33.6 million). They said the market was positive in morning trade following a meeting between President Abdurrahman Wahid and other political leaders in Yogyakarta. A dealer with Ramayana Artha Perkasa said the signing of a letter of intent with the International Monetary Fund to free up further loan assistance also helped boost morning trade.