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Asian markets up

AFP, Hong Kong
Asian markets rose Wednesday as investors welcomed a Wall Street rally, but trade was cautious on many regional bourses after a pledge from US President Barack Obama to revive the American economy.
TOKYO: Up 2.65 percent. The Nikkei-225 index rose 192.66 points to 7,461.22.
Tokyo said that it had started work on an emergency plan to halt a plunge in share prices. The Nikkei is down more than 16 percent in 2009, after a rec ord 42 percent plunge last year.
HONG KONG: Up 1.6 percent. The benchmark Hang Seng Index climbed 206.56 points to 13.005 08
Financial secretary John Tsang said Hong Kong's economy would contract
by 2.0 percent to 3.0 percent this year, but dealers said his budget speech had not dissuaded investors.
SYDNEY: Down 0.1 percent. The benchmark S&P/ASX200 dropped 4.1 points lo 3,327.5 - - its lowest close since February 16,2004.
"Obama failed to boost confidence, with traders reversing earlier positions," said IG Markets analyst Ben Poller.
Banking stocks led most of the losses.
SHANGHAI: Up 0.27 percent. The benchmark Shanghai Composite Index, which covers A and B shares, gained 5.92 points lo 2,206.57.
TAIPEI: Up 1.43 percent. The weighted index added 63.56 points to 4,493.74.
Financials rose 4.26 percent, plastics added 1.34 percent and electronics
gained 1.13 percent.
SEOUL: Up 0.3 percent. The benchmark KOSPI index rose 3.2 points to 1,067.08 points.
The index jumped nearly three percent in early trade but caved in lo profit-taking by foreign and institutional investors.
SINGAPORE: Up 0.15 percent The blue-chip Straits Times Index gained 2.35 points to 1,616.79.
KUALA LUMPUR: Up 0.3 percent. The Kuala Lumpur Composite Index rose2.44 points to 896.51.
MANILA: Up 0.9 percent. The composite index climbed 17.51 points to 1,887.10.
MUMBAI: Up 0.91 percent. The benchmark 30-share Scnsex index added 80.5 points to 8,902.56, snapping two days of losses.