June 30, 2006	Friday	Jumadi-ul-Sani 3, 1427

HONG KONG, June 29: Asian stocks managed a solid rebound on Thursday following Wall Street's lead as investors resigned themselves to a US rate hike later in the day and hoped for some policy clarity from the US Federal Reserve, dealers said.

TOKYO: Japanese share prices rallied 1.58 per cent as bargain hunters scooped up beaten down stocks, encouraged by overnight gains on Wall Street, dealers said.

Volume was 1.43 billion shares, down from 1.47 billion Wednesday.

HONG KONG: Hong Kong share prices closed 0.78 per cent higher as gains on Wall Street and in Tokyo helped investors put aside worries over the US Federal Reserve's impending interest rate decision and policy statement, dealers said.

SYDNEY: Australian share prices closed 1.02 per cent higher, taking their lead from Wall Street gains overnight as investors bought bank and resource stocks ahead of the end of the financial year, dealers said.

SINGAPORE: Singapore share prices closed 1.53 percent higher as gains in regional markets following Wall Street's advance bolstered sentiment ahead of an expected US interest rate hike later in the day, dealers said.

KUALA LUMPUR: Malaysian share prices closed 0.40 per cent higher, supported by firmer regional markets and mid-year window-dressing activity by fund managers, dealers said.

JAKARTA: Indonesian share prices closed 0.21 per cent higher, in line with strengthening regional markets following Wall Street gains overnight, dealers said.

WELLINGTON: New Zealand share prices closed 0.21 per cent higher in cautious trade as investors waited for the US Federal Reserve's expected rate hike decision later in the day, dealers said.

MUMBAI: Indian share prices closed 0.32 per cent higher in cautious trade ahead of a key US Federal Reserve meeting where interest rates are expected to be hiked, dealers said.—AFP