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Asian market highlights:

TOKYO: Tokyo stocks closed moderately higher on Tuesday, with dealer and arbitrage-linked buying playing a major role in the run-up of stock indices, brokers said.

Foreigners' purchases of electrical shares such as NEC Corp also contributed to higher prices.

The 225-share Nikkei average rose 223.51 points, or 1.35 percent, to 16,838.97.

"Selling pressure is still strong, but buy orders absorbed selling little by little," said Shunji Suesada, general manager at Yamaichi Securities.

HONG KONG: Hong Kong stocks ended slightly lower as a late sell-off erased modest morning gains after buying interest dried up, brokers said.

The Hang Seng index eased 14.58 points, or 0.16 percent, to 9,303.82, off a morning high of 9,402.08.

The market opened firmer on Wall Street's overnight advance and the apparent lack of selling pressure but remained narrowly bound all day on a lack of follow-through buying, brokers said.

BANGKOK : Thai shares were marginally higher in sluggish trade as worries about inflation and the poor first-half performance of the finance sector continued to take their toll, brokers said.

The SET index rose 4.33 points, or 0.33 percent, to 1,331.80 with just 44.35 million shares worth 3.6 billion baht (US$145.16 million) changing hands.

"The only thing I was hoping for today was to see the index close above the 1,330 level. Late buying made my wish come true," said a broker at Ekachart Finance and Securities.

BOMBAY: Bombay's stock index finished steady, recovering from early losses as foreign funds bought selectively near the close, brokers said.

The Bombay Stock Exchange (BSE) 30-share index fell 2.39 points to a provisional 3,391.61 after touching a low of 3,368.27. The composite National index fell 3.36 points to a provisional 1,572.31.

"The market did stage a little bit of a smart recovery at the close," said a dealer at a local broking house. He said foreign funds were buyers in aluminium firm Hindalco and truck maker Tata Engineering & Locomotive Co.

COLOMBO: Sri Lanka stocks closed barely changed as investors, unfazed by Monday's bomb explosion, bought stocks selectively, brokers said.

The Colombo Stock Exchange all share index inched down 1.47 points to 751.23. Turnover was 30.47 million rupees ($609,400).

"There is no panic after yesterday's blast because violence was anticipated. Investors are still willing to go for stocks with value," said Dirk Tissera of Asia Securities.

KARACHI: Pakistani stocks finished higher as a rise in blue chips offset profit-taking by small investors on the new accounts day, dealers said.

The Karachi Stock Exchange 100-share index rose 14.05 points, or 0.77 percent, to 1,830.29.

"The index ended higher as the blue chips rose," dealer Khalid Hussain said. "But speculators and big investors kept to the sidelines."

JAKARTA: Jakarta share prices closed the day mixed in moderate trading, with the focus remaining on newly listed Surya Hidup Satwa and Astra International, brokers said.

The Jakarta composite index fell 2.13 points, or 0.41 percent, to a provisional 513.61 after touching the day's high of 517.44.

"Surya Hidup failed to sustain its early upside on profit-taking mostly in the second session, but the stock was traded heavily with some 6.5 million shares changing hands," one broker with a foreign brokerage firm said.

KUALA LUMPUR: An early rebound of blue chips fizzled as sellers emerged in the afternoon ahead of a national holiday on Wednesday, traders said.

The Kuala Lumpur Stock Exchange's Composite Index eased 0.33 of a point, or 0.03 percent, to 1,056.24.

"There's more sellers than buyers. There's just nothing to pull the market higher," said a foreign house trader.

The key index is expected to see strong support at 1,050 points but is unlikely to test 1,070 this week, said a trader at a bank-backed brokerage.

MANILA: Manila shares were slightly higher in moderate trade, fuelled by bargain-hunting in second-line stocks, brokers said.

The index crawled up 2.02 points, or 0.07 percent, to 2,890.86.

"We saw secondliner issues rebounding, especially those whose earnings fell within targets," said John Torres at Asian Oceanic Merit Securities.

SEOUL: South Korean stocks fell as investor sentiment remained depressed on rumours of a government investigation into a former president's alleged illegal financial accounts, brokers said.

A limited technical rebound was seen at midday but proved too weak to carry on in the afternoon.

The composite index fell 5.97 points, or 0.66 percent, to 901.87. Volume improved, with 26 million shares changing hands compared to Monday's 24 million.

SHANGHAI : Shanghai's B share index closed at a year high, continuing its month-long rally, brokers said.

The B share index rose 0.606 of a point, or 0.99 percent, to 61.891, topping the peak of 61.78 set on January 3. Volume was an active 13.201 million shares.

Brokers said the market was boosted by a series of positive reports, with news of improvement in China's economic performance the most important.

"Overseas investors in B shares are most interested in macro-economic performance in China," said Jiang Dengfu, an investment analyst with Shanghai Shenyin Securities.

Shanghai's A index lost 6.279 points, or 0.84 percent, to 737.699 on turnover of 1.485 billion yuan on profit-taking in large stocks.

SHENZHEN: Shenzhen hard-currency B shares closed higher on Foshan Lighting's solid debut, brokers said.

The B share index gained 0.50 of a point to 71.38 on turnover of HK$20.62 million ($2.66 million).

Foshan Lighting, whose 50 million B shares were offered at HK$5.61 (72 U.S. cents) each, opened at HK$5.70 (73.5 cents) and closed at an intraday high of HK$6 (77 cents) on trade of 738,000 shares.

The Shenzhen A share index inched down 0.01 of a point to 138.39 on turnover of 882 million yuan ($106.7 million). Brokers said a fall in Shanghai-listed stocks late in the afternoon was responsible for the modest retreat in A shares.

The composite index gained 0.06 of a point to 134.46 on total turnover of 1.058 billion yuan ($128 million).

SINGAPORE: Singapore shares ended lower as Wednesday's National Day public holiday, the half-year results season and concerns over upcoming gross domestic product data discouraged investors from taking new positions.

The 30-share Straits Times Industrials Index fell 6.16 points, or 0.29 percent, to 2,090.28. Total volume was 138.95 million shares worth S$434.88 million ($311 million).

"It's more by default than anything," said the trading manager at a local bank. "People can't find any reason to buy."

SYDNEY: The Australian share market eased despite Wall Street's gain and firm metals prices as resource majors consolidated recent gains.

The All Ordinaries Index closed 6.3 points, or 0.29 percent, lower at 2146.5. The September share price futures contract was down three points to 2178, a 31.5-point premium to the physical market.

Dealers said Wall Street's rise and firm offshore base metals prices were not enough to hold the market in positive territory after resource majors retraced some of their recent gains.

TAIPEI: Taiwan share prices were mixed in cautious trade as investors adopted a wait-and-see attitude over the government's handling of the International Bills Finance crisis.

The index fell 2.02 points, or 0.04 percent, to 4,917.09, off an intra-day low of 4,881.85. Turnover was a light T$25.99 billion ($966.89 million).

The index wavered below major resistance of 5,000 points throughout the session, with buying focused on lower-priced industrial shares, brokers said.

WELLINGTON: The New Zealand share market was markedly higher on solid gains by the leading issues, with volume swelled by a bid for St Lukes Group shares and convertible notes.

The NZSE-40 capital index rose 23.20 points, or 1.09 percent, to 2,148.0, with volume of NZ$130 million ($87.1 million), three-quarters of which was in St Lukes.

Sydney-based BT Alpha Fund announced in the late afternoon it held 47.42 percent of Auckland shopping mall owner St Lukes, slightly less than double its previous holding.-Reuter