September 27, 2002 3:48:58 PM
Regional Review
Asian Stocks End Higher On Banking Shares Rally

Japan's Nikkei rallied 2.3%, led by banking shares, following the local government's policy to bail out bad loans of cash-strapped banks with the public funds.

Shares of SK Telecom Co sent Korea's Kospi index higher 0.2%. Investors in South Korea at the present turn to telecoms stocks as they are not affected by oil price increase and foreign currency.

Singapore's STI rose 1.4%, led by the country's corporate giants.

Hong Kong-based Hang Seng average added on 0.4%, led by shares of Sun Hung Kai Properties and other developers on news that the local administration will grant residency in China to support house prices.

Below is a snapshot of the regional stock markets at 15.00 West Indonesia Time: