Asian Markets Update: Bargain Hunting Helps Shares Close Flat or Higher

TOKYO -- Asian stock markets ended Tuesday flat to solidly higher, as some investors went shopping for bargains following a heavy selloff Monday.

In Tokyo, the

Nikkei 225

closed down 4.6 points, virtually unchanged at 14,660.0 and the

Topix

index, which includes all shares listed on the

Tokyo Stock Exchange

, fell 6.5, or 0.5%, to 1389.2.

TDK

(TDK)

rose 170 yen, or 1.6%, to 11,170 ($103.72), but most Japanese technology shares were largely left out of the rebound.

NEC

(NIPNY)

dropped 70 yen, or 3.2%, to 2120 and

Fujitsu

(FJTSY)

fell 26 yen, or 1.3%, to 1909.

NTT DoCoMo

(NTDMY)

closed down 20,000 yen, or 0.7%, at 2.84 million, ahead of the release of the wireless operator's first-half results.

Nippon Telegraph & Telephone

(NTT)

closed down 10,000 yen, or 1.1% to 910,000.

The dollar traded at 107.70 yen from 108.01 yen Monday.

Elsewhere, Hong Kong's

Hang Seng

index rebounded strongly, rising 361.8, or 2.4%, to 15,177.5.

China Mobile

(CHL) - Get Report

rose HK$1.20, or 2.5%, to 49.50 ($6.35) and

HSBC

(HBC)

climbed HK$2.50, or 2.2%, to 113.50.

South Korea's

Kospi

index jumped 14.1, or 2.6%, to 553.0, as

Samsung Electronics

rose 7,000 won, or 4.4%, to 164,500 ($144.17) and

Korea Telecom

(KTC)

closed up 1,900 won, or 2.8%, at 70,900.

Taiwan's

TWSE

index fell 21.0 points, or 0.4%, to 5772.5.