Most Asian markets rebounded Thursday, with Japanese stocks snapping a four-day losing streak and investors in Hong Kong buying up bargains, according to AP. Tokyo's benchmark Nikkei 225 index rose 2.1 percent to 13,783.5 points after shedding 7.5 percent of its value the preceding four sessions. Hong Kong's blue chip Hang Seng Index rose 2.7 percent to 25,115.0, recovering from a 5.4 percent slide Wednesday. Broad bargain hunting helped to lift Asia's two largest markets after the previous declines, traders said, although markets may remain volatile until the next U.S. Federal Reserve Bank interest rates meeting on Jan. 29-30. «Investors are also hoping to see measures coming out by the Bush administration to make the situation better,» said Hiroichi Nishi, general manager at Nikko Cordial Securities. U.S. President George W. Bush, returning from the Middle East Wednesday night, has on his schedule a Thursday afternoon conference call with congressional leaders to discuss a possible short-term economic stimulus package. In recent days, fears have grown about the possibility of the U.S. sliding into a recession. Real estate and construction shares led Tokyo's gains. Mitsubishi Estate Co. added 7.0 percent, Sumitomo Realty & Development Co. rose 4.2 percent and Obayashi Corp. climbed 7.5 percent. The broader Topix index, which includes all shares on the Tokyo exchange's first section, added 2.2 percent to 1,330.44. «Sentiment is still fragile, but investors are rushing back to buy at dips now,» said Francis Lun, a general manager at Fulbright Securities in Hong Kong.
