Asian shares rise amid hopes for Fed action (AP) (21-09-2010)

BANGKOK (AP) – Tuesday 21, Asian stock markets appeared more gains as hopes for more action by the Federal Reserve to prop up the U.S. economy extended Wall Street's rally into a fourth week

Growth in Asia is expected to remain robust over the next year despite weakness in advanced nations.

Japan's Nikkei 225 stock average gave up early gains to fall 27.25 points, or 0.3 percent, to 9,598.17 as the country returned from a Monday holiday.

Yamada Denki Co. lost 1.1 percent amid concerns about a potential drop-off in Chinese tourists.

Hong Kong's Hang Seng index rose 0.1 percent to 22,004.24 and Singapore's benchmark gained 0.3 percent to 3,089.40, while the Shanghai Composite Index dropped 0.2 percent to 2,584.14

Markets in India, Malaysia, New Zealand and Thailand gained.

Australia's S&P/ASX 200 was off 0.2 percent at 4,624.20.

South Korean financial markets were closed for a national holiday.

Source: AP