Several Asian markets advanced on Monday, the last trading day of 2007, led by Hong Kong stocks, which rallied in a shortened session on China-related issues such as Air China.
Stock markets in Japan, China, Thailand and Philippines were closed for the day.
Hong Kong's Hang Seng Index rose 1.6 percent to 27,812.65 during the shortened session, registering gains of 39.3 percent for the full year. The Hang Seng China Enterprises Index added 0.8 percent at 16,124.72.
In Hong Kong, shares of Air China surged 7 percent to extend gains on hopes that China's plan to allow airlines expand service between the mainland and Hong Kong will benefit the airline.
Resource stocks also advanced, with shares of Zijin Mining Group adding 3.8 percent and Yanzhou Coal Mining gaining 1.7 percent.
In Sydney, shares of CBA rose 0.4 percent, Macquarie gained 0.5 percent and QBE advanced 1 percent, rebounding from early losses.
Shares of mining major Rio Tinto ended little changed after the Sunday Times of London reported that Marius Kloppers, the chief executive of BHP Billiton, was considering submitting an unchanged bid for Rio Tinto. BHP has offered shares that value Rio Tinto at roughly $153 billion, a deal Rio has rejected as inadequate.
ELSEWHERE:
MUMBAI: India's Sensitive index gained 0.6 percent at 20,319.45.
SINGAPORE: The Straits Times Index added 1.1 percent to 3,482.30.
TAIPEI: Taiwan's Weighted Index climbed 1.3 percent to 8,506.28.
SEOUL: South Korea's Kospi lost 0.6 percent to 1,897.13.
SYDNEY: Australia's S&P/ASX 200 ended little changed at 6,339.80.
WELLINGTON: New Zealand's NZX 50 index rose 0.1 percent to 4,041.38.
with files from other wire services
