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Asian stocks soar on US plan

AFP, Hong Kong
Asian stock markets rocketed higher on Monday after the United States unveiled a 500 billion dollar plan to clean up bad assets in its troubled banks.
TOKYO: Up 3.39 percent. The Nikkei-225 rose 269.57 points to 8,215.53.
1'he Nikkei 225 index has risen in five of the past six sessions, soaring more than 1,000 points, or LI percent, as investors look beyond the current economic downturn and focus on prospects for a recovery.
HONG KONG: Up 4.78 percent. The Hang Seng Index rose 613.91 points to 13,447.42.
SYDNEY. Up 2.4 percent. The S&P/ASX200 rose 84.5 points to 3,550.3.
Burrell Stockbroking associate Peter Wright said the gains came as the mar
ket awaited details ofWashinglon's 500 billion US dollar plan to remove "toxic assets" from US banks.
SHANGHAI: Up 1.95 percent. The Shanghai Composite Index rose 44.39 points to 2,325.48.
TAIPEI: Up 3.28 percent. The weighted index rose 162 56 points to 5.124 18.
Ihe market rose as institutional investors resumed buying large cap electronic stocks, dealers said.
SEOUL: Up 2.45 percent. I he KOSPI index rose 28.56 points at 1,199.50.
SINGAPORE: Up 4.21 percent. The Straits Times Index rose 67.16 points to 1.664.08.
Bank shares closed higher. United Overseas Bank climbed 41 cents to 9.79, DBS gained 25 cents to 8.00 and Oversea-Chinese Banking Corp rose 16 cents to 4.72.
KUALA LUMPUR: Up 2.50 percent. The Kuala Lumpur Composite Index
rose 21.48 points to 878.30.
BANGKOK: Up 1.99 percent The Stock Exchange of Thailand composite index rose 8.53 points to 438.17.
Thailand's top energy firm PTT Plc surged 9.00 baht to close at 160 00 baht and its subsidiary PTI Exploration and Production edged up 0.50 to 98.00.
Coal producer Banpu also rose 12.00 to 224.00
JAKARTA: Up 3.36 percent. The lakarta Composite Index rose 45.76 points to 1,406.65.
MANILA: Up 2.46 percent. The composite index rose 45.19 points to 1.879.09.
Philippine Long Distance Telephone Co. gained 2.54 percent to 2,015 pesos while Ayala Corp, rose 2.39 percent to 214 pesos.
MUMBAI: Up 5.1 percent. Ihe Sensex index rose 457.34 points to 9,424.02.
The index was at a near six week high.