HONG KONG
Hong Kong stocks hit records on Thursday before retreating to a range as investors bid up mainland large caps amid news that China was exploring the idea of allowing share swaps in firms listed in Hong Kong and the mainland.

The benchmark Hang Seng Index closed up 166.34 points at 29,465.05, having topped the key 30,000 mark briefly after the open before pulling back into range for the day.

The index ended up 2.2 per cent for the week.

The China Enterprises index of H shares , or Hong Kong-listed shares in mainland companies, gained 186.04 points to close at 19,722.38, having earlier tapped a record 20,516.85. The index posted a 3.4 per cent weekly gain.

Mainboard turnover was HK$168.5 billion (US$21.6 billion) compared to Wednesday?s HK$160.5 billion.

TOKYO

Japanese share prices closed up 0.89 per cent on Thursday on bargain-hunting after the market fell to a two-week low on jitters about the health of the global economy, dealers said.

They said the benchmark Nikkei index regained the key 17,000 points level but that traders were keeping a close watch on soaring oil prices and the state of the United States economy after a mixed batch of economic indicators.

The Tokyo Stock Exchange's benchmark Nikkei-225 index of leading shares gained 150.78 points to 17,106.09, a day after sinking to the lowest close since Oct 1.

The broader Topix index of all first-section shares climbed 17.46 points or 1.09 per cent to 1,617.75.

SHANGHAI
Chinese share prices closed 3.50 per cent lower on Thursday on fears the government would try to cool the heated market and plans to allow mainland investors to buy Hong Kong stocks, dealers said.

The benchmark Shanghai Composite Index, which covers both A and B shares, ended the morning down 211.00 points at 5,825.28.

The Shanghai A-share Index fell 222.11 points or 3.50 per cent to 6,114.95

KUALA LUMPUR
The Kuala Lumpur Composite Index rose 4.2 points to 1,378.59 at the lunch-break. It opened 1.03 points higher at 1,375.42. -- REUTERS, AFP