Asian stocks rally on US rescue bid

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Japan's Nikkei 225 average advanced 3.2% to 11,859.75, while Hong Kong's Hang Seng Index shot up nearly 7% to 18,836.90.

Stock measures in China, Taiwan, South Korea and Australia were also sharply higher.

After a week of steep losses, regional markets were lifted partly by overnight gains on Wall Street, where the Dow Jones industrial average surged 410.03, or 3.86%, to 11,019.69 - the benchmark's biggest percentage point gain since October 2002.

The news powered Asian financials higher, with China's biggest lender, Industrial & Commercial Bank of China Ltd, or ICBC, rising 14%. Banks in Japan and Australia also gained.

In currencies, the dollar climbed against the yen to 106.74.