Tokyo - The Liberal Democratic Party (LDP) will vote to replace outgoing Prime Minister Yasuo Fukuda as head of the party that has dominated Japan for more than 50 years, officials said Sunday.

Taro Aso, who turned 68 on Saturday, is seen as the most likely candidate to win the party vote Monday. Contenders include former defence minister Yuriko Koike, 56, who is the first female candidate to run for the LDP presidency; Economic and Fiscal Policy Minister Kaoru Yosano, 70; former defence minister Shigeru Ishiba, 51; and former LDP policy chief Nobuteru Ishihara, 51.

The winner would be assured of becoming Japan's prime minister, because the party controls the House of Representatives in the Diet, or parliament.

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.

Tokyo - Japanese Farm Minister Seiichi Ota said on Friday he would resign over a food scandal involving tainted rice.

"The tainted rice scandal has become a huge social problem, and I have determined that I need to clarify the responsibility of the Agriculture, Forestry and Fisheries Ministry," Ota said at a press conference Friday.

According to Japanese broadcaster NHK the resignation was accepted by Prime Minister Yasuo Fukuda.

Tokyo - Tokyo stocks bounced back in morning trading Friday as the Wall Street surged overnight on news about the US government's plan to create an entity to dispose of bad loans.

The benchmark Nikkei 225 Stock Average surged 378.9 points, or 3.3 per cent, to 11,868.2.

The broader Topix index of all first-section issues also rose 42.44 points, or 3.87 per cent, to 1,140.12.