Asian markets got a boost on Wednesday, with financial stocks such as Mizuho Financial Group in Tokyo, DBS Group Holdings in Singapore and Ping An Insurance (Group) Co. of China in Hong Kong spiking up on optimism the worst of the global credit crisis may be over.
Tokyo's Nikkei index gained 4.2 percent, rising 532.94 points to 13,189.36, and the Hong Kong market's Hang Seng index advanced 3.2 percent.
In Tokyo, shares of Mizuho surged 10.1% and Mitsubishi UFJ Financial Group gained 9.8%.
China's Shanghai composite closed higher by 0.6 percent after being up as much as 4.1 percent during the session.
Elsewhere:
Australia's S&P/ASX 200 added 2.6% to 5,502.90.
South Korea's Kospi advanced 2.4% to 1,742.19.
New Zealand's NZX 50 index climbed 1.7% to 3,592.79.
Taiwan's Weighted Index gained 2.2% to 8,605.32.
with files from other wire services
