Asian Markets Update: Nasdaq's Rally Thursday Boosts Tech Shares

TOKYO -- Asian equity markets ended the week on a positive note, as the Nasdaq Composite Index's rally Thursday buoyed tech shares. Tokyo's market was closed for a holiday.

As Japanese investors enjoyed a three-day weekend, elsewhere in the region bank and telecom issues were snapped up alongside technology stocks.

In Hong Kong, the Hang Seng index rose 302.6, or 2%, to 15,594.1, as China Mobile(CHL) rose HK$1.65, or 3.3%, to 51.25 ($6.57) and HSBC(HBC) surged HK$3.50, or 3.1%, to 116.50. Internet firm Pacific Century Cyber Works (PCW) rose HK$0.20, or 3.5%, to 5.95.

In South Korea, the Kospi index rose 2.3, or 0.4%, to 560.4, as Korea Telecom (KTC) rose 200 won, or 0.3%, to 71,500 ($62.89) and Samsung Electronics jumped 6,000, or 3.6%, to 172,000.

Taiwan's TWSE index also climbed 170.0, or 3%, to 5796.1, as chipmaker giants Taiwan Semiconductor (TSM) rose 5.8% to 109.50 Taiwan dollars ($3.39) and United Microelectronics (UMC) soared 5.9% to 62.50.

The dollar traded at 108.17 yen from 108.23 yen Thursday.

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