KUALA LUMPUR
Malaysian share prices closed 0.4 per cent higher Wednesday amid gains across almost all sectors, dealers said.

The Kuala Lumpur Composite Index rose 3.79 points to end at 1,073.21.

HONG KONG
Hong Kong shares rebounded from early losses on Wednesday, with the benchmark index climbing 1.99 per cent on hopes of a stimulus package to aid fragile mainland stock markets, bucking weak sentiment in the region.

Chinese finance and insurance stocks advanced, with China Life gaining 4.7 per cent, China Construction Bank up 3 per cent and ICBC up 2.6 per cent.

The Hang Seng Index unofficially closed 407.64 points higher at 20,892.01 points.

The China Enterprises Index of top locally-listed mainland firms jumped 4.27 per cent.

SHANGHAI
Chinese share prices surged to close 7.63 per cent higher on Wednesday amid renewed hopes that Beijing will soon act to support the ailing stock market, dealers said.

The key index initially fell as low as 2,306.66 points on lingering concerns over share supply glut, rising inflation pressures and a slowing economy.

But hopes on a near-term economic stimulus package from Beijing sparked a rally in Shanghai and aided other Asian markets despite an overnight decline in Wall Street.

The benchmark Shanghai Composite Index, which covers both A and B shares, was up 178.81 points at 2,523.28 on a turnover of 59.0 billion yuan (S$12.1 billion).

The key index saw the biggest single day percentage gain since April 24 after the government cut the stamp duty. It had fallen around 60 per cent from its peak last October ahead of Wednesday's rally.

'The rally was triggered by market talk that Beijing will launch measures to buoy the market, such as trade on credit, stock index futures or new rules on the sales of previously nontradeable shares,' said Ms Yan Li, an analyst from Southwest Securities.

She said brokers would benefit the most from such measures as it would boost their sales.

The Shanghai A-share index rose 187.71 points, or 7.63 per cent, to close at 2,648.75 on turnover of 58.7 billion yuan, while the Shenzhen A-share index jumped 50.30 points, or 7.21 per cent, to 747.58 on turnover of 26.2 billion yuan.

TOKYO
Japanese share prices closed down 0.10 per cent on Wednesday at a fresh one-month low as renewed concerns about the fallout from the US financial crisis kept buyers away, dealers said.

The Tokyo Stock Exchange's benchmark Nikkei-225 index dropped 13.36 points to end at 12,851.69.

The broader Topix index of all first-section shares lost 2.17 points or 0.18 per cent to 1,233.37. -- AFP, BERNAMA, AP