Hong Kong - Hong Kong stocks sank 2.5 per cent Thursday, wiping out the previous day's gains, after a speculated rescue package for China's economy failed to materialize.

The Hang Seng Index ended the day at 20,392, down 539 points. Turnover was 55.7 billion Hong Kong dollars (7 billion US dollars).

The fall more than reversed the gains of Wednesday and took the index back down to its lowest level in more than a year.

Analysts said the market fell after a rumoured 400-billion-yuan (58.43-million-dollar) boost to aid China's economy and stock market, which had fuelled Wednesday's gains, failed to materialize and pessimism set in again.

Tokyo - Tokyo stocks opened lower Thursday on lingering concerns over the outlook of the US and Japanese economies.

The Nikkei 225 Stock Average fell 44.56 points, or 0.35 per cent, to 12,807.13.

The broader Topix index of all first-section issues was also down 3.88 points, or 0.31 per cent, to 1,229.49.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 109.70-75 yen, down from Wednesday's 5 pm quote of 110.12-13 yen.

Washington - Major US stock indices improved on Wednesday on the back of gains in energy and metal shares, while new mortgage- market fears weighed heavily on financial institutions.

The price of crude oil inched upward 0.8 per cent to 115.47 dollars per barrel in New York trading, after Goldman Sachs Group Inc said it stood by a forecast that oil would climb back up to 149 dollars per barrel by the end of the year.

Hong Kong - Hong Kong stocks rebounded by 2.1 per cent Wednesday on hopes that China may announce a package to help the mainland economy.

The Hang Seng index closed at 20,931, up 446 on the previous day when the index fell to its lowest level in a year on continued pessimism over slowing economic growth.

Analysts attributed the rise Wednesday to hopes that China was planning a 400 billion yuan (58 billion dollars) boost to its economy to aid growth.

Turnover was 62.3 billion Hong Kong dollars (7.9 billion US dollars).

The 30-share index BSE Sensex continued to trade in the positive terrain on the back of good buying action witnessed in pivotal stocks.

Realty, metal, power and banking stocks went up while FMCG and IT traded negatively.

BSE Midcap and Smallcap gained 0.95% & 0.82% respectively.

At 12:59 p.m, Sensex gained 93.93 points, or 0.65%, at 14,637.66, after touching a high of 14,703.57 and a low of 14,584.03.

Tokyo - Tokyo stocks extended losses Wednesday after overnight declines in the US market.

The Nikkei 225 Stock Average fell 36.51 points in morning trading, or 0.28 per cent, to close at 12,828.54.

The broader Topix index of all first-section issues was also down 6.31 points, or 0.51 per cent, to 1,229.23.

The Tokyo market was seeing second day of losses mainly in financial and export-oriented issues after the indices tumbled more than 2 per cent Tuesday on renewed worries about the global credit crunch and the weakening economy in the United States, Japan's largest export market.