HONG KONG, Jan 27: Asian stocks rose in quiet trade on Tuesday as dealers took a lead from a jump on Wall Street and some rare positive economic data from the United States amid a slew of grim employment news.

With half the region’s markets still closed for the Chinese New Year holiday and many traders staying away for the same reason, there was some bargain hunting as investors took advantage of a poor end to the previous week.

Tokyo jumped nearly five per cent after hitting a three-year low Monday.

The Nikkei was helped by a weaker yen, which boosted exporters, as well as an announcement from the government that it will inject public money into companies other than banks to help them through the global economic meltdown.

The news cheered investors who are tentatively awaiting a raft of miserable corporate news over the coming days and weeks.

Sydney added three percent due to stronger resources stocks, while Mumbai gained 3.8 percent despite the central bank lowering the country’s growth forecast for this financial year to March.

The markets were helped by a 0.48 percent rise in New York, which had rallied on hopes for a stimulus plan from US President Barack Obama that is going through Congress.

TOKYO: Up 4.93 per cent. The Tokyo Stock Exchange’s benchmark Nikkei-225 index rose 378.93 points to close at a one-week high of 8,061.07.

The broader Topix index of all-first section shares gained 37.21 points or 4.84 per cent to finish at 805.49.

Participants also cheered reports that Tokyo will inject as much as 1.5 trillion yen (17 billion dollars) into cash-strapped companies.

Markets welcomed the plan as it would mean that capital would flow to companies and the economy. Fears that companies may go bankrupt eased,” said Ishiguro.

Non-life insurer Tokio Marine Holdings surged 9.4 per cent to 2,395 yen and Sompo Japan jumped 8.0 percent to 581 yen.

Honda shares jumped 9.3 per cent to 2,125 yen. Toyota Motor gained 8.2 percent to 2,980 yen, while Nissan Motor rose 5.8 per cent to 292 yen.

Bank stocks gained sharply, with Mitsubishi UFJ jumping 8.5 per cent to 497 yen and Sumitomo Mitsui rising 8.1 per cent to 3,320 yen.

SYDNEY: Up three per cent. The benchmark S&P/ASX200 gained 101.3 points to 3,444.0, while the broader All Ordinaries was up 92.0 points at 3,392.3.

The gains followed a tumble of more than four percent on Friday, with the market closed Monday for a public holiday.

Provisional turnover was 1.1 billion shares worth 3.4 billion dollars (2.3 billion US).

BHP Billiton picked up 6.9 per cent to 29.33, while rival Rio Tinto jumped 10.9 per cent to 42.19. Australia’s largest gold miner Newcrest grew 8.4 per cent to 33.15.

Santos extended 4.2 per cent to 13.96.

Building group Leighton Holdings put on 11 per cent to close at 18.03.

Qantas was flat at 2.38.

JAKARTA: Up 1.6 per cent. The Jakarta Composite Index rose 21.04 points to 1,336.63 in thin trade.

Coal miner Bumi Resources rose 5.3 percent to 495 rupiah and nickel miner Antam increased 5.7 percent to 1,120.

Car distributor Astra rose 5.7 per cent to 13,100 rupiah on bargain buying.

WELLINGTON: Up 1.11 per cent. The NZX-50 index gained 30.11 points to 2,735.85 on turnover worth $45.6 million (23.65 million US).

Fletcher Building rose 17 cents to 5.71.

Market leader Telecom was up six cents to 2.57 and second-ranked Contact Energy advanced four cents to 6.70.

Auckland Airport added six cents to 1.84 dollars, Fisher & Paykel Healthcare was up five cents at 3.23, while Fisher & Paykel Appliances put on four cents at 1.30.

Pike River, however, closed one cent down at 0.97. The Warehouse retreated six cents to 3.68 and Guinness Peat Group was down a cent at 86 cents.

MUMBAI: Up 3.8 per cent. The 30-share Sensex index rose 329.73 points to 9,004.08.The bank cut its growth estimate for this fiscal year to seven percent “with a downward bias, from an earlier projection of 7.5 to 8.0 per cent.—AFP