Tokyo share prices rose 0.7 per cent as investors chased Sony Corp. and other promising issues amid improved prospects for the sale of a failed credit bank. The Tokyo Stock Exchange's key Nikkei-225 index gained 106.52 points to finish at 16,206.19, overcoming an early setback following a decline in the technology-heavy US Nasdaq composite.

Hong Kong: Share prices rose 2.2 per cent, led by financial stocks and China Mobile, although red-chips and H-shares experienced some profit-taking after recent gains. Dealers added the local stock market will remain volatile until the US interest rate decision by the Federal Reserve later this month.

The key Hang Seng index gained 379.94 points to close at 17,277.39 on turnover of 14.56 billion Hong Kong dollars ($1.86 billion US). Sunny Chan, Vice-President of KGI Securities, said market sentiment turned positive after the Hang Seng Index broke through the key resistance level of 17,100.

"However, the market will be volatile, as investors will adopt a wait-and-see attitude to the US interest rate outlook," he said.Singapore: Share prices closed 0.4 per cent lower as investors took profits on blue chip issues. The Straits Times Index fell 8.16 points to 2,065.92, while the broader All-Singapore Equities Index inched up 0.49 points to 555.01.

Dealers said the market corrected after gains earlier in the week, but buying sentiment on select blue chips remained firm. "There is rotational play in the market. Buying is getting a little bit broader," a dealer with a European brokerage said.

Dealers, however, said most of the stocks that led gains earlier this week were correcting.

Kuala Lumpur: Malaysian shares ended 0.3 per cent lower after a listless session on a lack of fresh leads. The Kuala Lumpur Stock Exchange composite index closed down 2.06 points at 802.53.

An institutional dealer with a local brokerage said early follow-through buying fizzled out when no fresh leads emerged to sustain it. "Trading was listless, there are no leads. Whatever buying there was from yesterday just fizzled out," he added.

Seoul: South Korean share prices edged up 0.2 per cent on gains in bank and brokerage stocks. The Korea Stock Exchange index closed up 1.23 points at 728.33. Volume was 326.8 million shares worth 1.9 trillion won ($1.7 billion).

Financial stocks led the gains as the government was reportedly drawing up a new blueprint for a second round of banking sector reforms, said SK Securities analyst Park Yong-Sun. Park added that the easing of selling by foreign investors and rising program-buying also boosted the gains.

Manila: Philippine share prices closed 0.2 per cent higher due to bargain-hunting after a run of losses. The Philippine Stock Exchange composite index rose 2.44 points to 1,412.77.

"Its probably just bargain hunting based on a long record of losses over the last few days," said Luz Lorenzo of ATR-Kim Eng Securities. However, she said that this was not yet the beginning of a rally, warning that "there are still many issues that will affect corporate earnings."

"Earnings are being affected by the adverse operating environment," she said, referring to poor business confidence, concerns about rising interest rates and the continuing conflict with Muslim insurgents in the South.

Taipei: Taiwan share prices closed 0.9 per cent lower in a dull session as investors continued to avoid trading on lingering political concerns. The Taiwan Stock Exchange weighted price index shed 67.80 points to 7,916.85, on turnover of 49.28 billion Taiwan dollars ($1.59 billion).

"Market sentiment became more cautious after Tuesday's turnover hit a new low this year at 45.88 billion dollars," said Kevin Chu, analyst at Grand Cathay Securities. Investors remained wary over uncertainties in the government's economic and financial policies, he said.