Asian Shares Continue Rebound On Tuesday

October 21, 2008 7:08 a.m. EST

Hong Kong (AHN) - Share prices in Asia and the Pacific continued its upsurge Tuesday following Wall Street's good performance, amid signs the economic bailout of the Bush administration will stimulate the global financial markets.

The Japanese Nikke saw its 225 index gaining 2.46 percent at the close of Tuesday's trade to 9,226.70 while Hang Seng Index in Hong Kong posted a slight increase of about 0.1 percent to 15,331.34.

Markets in Singapore, Australia, China and Thailand also showed positive performance following an overnight gain on Wall Street that saw the Dow Jones industrial average up by 413.21, or 4.67 percent, to 9,265.43.

In Seoul, the KOSPI dived a little over one percent, and Taiwan's Weighted increased by .5 percent. Singapore Straits Times index was up 1.2 percent and India's BSE SENSEX in Mumbai was up 1.3 percent in early trading.

Investors reacted positively over announcement made by U.S. Federal Reserve Chairman Ben Bernanke of a second economic stimulus package to further help the chronic financial problem.