Tokyo  - Asian stocks bounced back Friday after a series of US government-financed bailouts of financial firms and a plan to create an entity to dispose of bad loans triggered a market surge on Wall Street.

Hong Kong shares rocketed by almost 10 per cent in one of their biggest-ever one-day rallies as buyers charged back into the market on renewed optimism.

The blue-chip Hang Seng Index rose 9.61 per cent to end the week at 19,327.73.

The index had shot up 3,000 points since midday Thursday after falling 7.38 per cent in Thursday morning trading.

The trigger for the surging market was news Thursday that central governments worldwide were intervening to stop a slide in global share prices. A rally on Wall Street overnight added extra momentum.

Mainland China's main stock market jumped by 9.46 per cent after the announcement of government measures to bolster share prices and earlier gains on Wall Street.

The key Shanghai Composite Index, which tracks shares traded in local and foreign currencies, ended the day at 2,075.09.

The Shanghai index gained 9 per cent immediately after opening, while the smaller Shenzhen Component Index also soared by 9 per cent at the close of trading on Friday.

Tokyo's benchmark Nikkei 225 Stock Average gained 3.76 per cent to close at 11,920.86 while the broader Topix index of all first-section issues rose 4.69 per cent to
1,149.12.

The Bank of Japan injected 3 trillion yen (28.66 billion dollars) into the money market Friday as an emergency operation to ease the effects of the global financial turmoil.

Japan's central bank has poured a total of 11 trillion yen into the money market since Tuesday.

In Seoul, shares surged 4.55 per cent, with the benchmark Kospi index soaring to 1,455.78.

Taiwan stocks rose nearly 6 per cent, boosted by Wall Street gains and an across-the-board rebound on major Asian stock markets, dealers said.

The Taiex index opened sharply higher and continued its upswing to close at 5,970.38, up 5.82 per cent.

India's benchmark Sensex stock index gained 5.46 to end the week at 14,042.32 on surging global markets and statements by Indian leaders that the economy would remain unaffected by the global financial turmoil.

The broader National Stock Exchange's Nifty index also rose 5.13 per cent to 4,245.25 as all blue-chip stocks recorded handsome gains.

Philippine share prices surged 4.69 per cent. The 30-share composite index of the Philippine Stock Exchange closed at 2,462.79.

The Jakarta Composite Index rose 5.82 per cent to 1,891.732 while the Stock Exchange of Thailand index was up 4.07 per cent at 624.83.

The Vietnamese stock market also rebounded sharply. The volatile VN-Index ended Friday up 4.7 per cent at 439.06.

Australian shares also rebounded as short-sellers stampeded the market to unwind the positions that have dragged financial institutions through the mire.

Making up most of the week's losses, the ASX 200 put on 4 per cent to close at 4,793. Volumes were six times the daily average. (dpa)