HONG KONG - Asian markets climbed Wednesday as investors shrugged off a downward revision of US third-quarter growth and picked up bargains following losses in the previous session.

Tokyo and Sydney both added 0.79 per cent, Hong Kong rose 0.84 per cent and Seoul was 0.34 per cent higher.

Markets were unmoved by the US announcing that gross domestic product in the July-September period rose 2.8 per cent, down from the originally forecast 3.5 per cent. Despite the drop, the data still represented the first growth for the world's biggest economy in several quarters.

Mixed figures in Japan showed the country posted a trade surplus for the ninth straight month in October. Exports fell at their slowest rate in a year but were still down 23.2 per cent year-on-year.

Shanghai jumped 2.07 per cent after diving more than three per cent Tuesday on fears of banks tightening their lending. Analysts said despite the rise there were still concerns over government monetary policy.

TOKYO

Up 0.79 per cent. The S&P/ASX 200 rose 37.2 points to 4,722.2. Despite the gain shares remain under pressure from deflation woes, a strong yen and uncertainty surrounding the country's economic recovery, dealers said.

Real estate shares fell after a report said property developer Anabuki Construction had filed for protection from creditors. It lost 7.7 per cent to 132 yen.

Shipper Nippon Yusen tumbled 4.8 per cent to 275 yen after saying it would boost capital, sparking fears of a share glut.

Tokyo Motor gained 1.2 per cent to 3,420 yen after a four-day losing streak, while Honda firmed 2.6 per cent to 2,795 yen, its first rise in nearly two weeks.

HONG KONG

Up 0.84 per cent. The Hang Seng Index added 188.66 points to 22,611.80.

The Hong Kong property sub-index rose 1.8 per cent to 27,759.64 after a 1.5 per cent fall Tuesday.

Henderson Land jumped 3.5 per cent to 55.80 Hong Kong dollars after a 2.3 per cent decline Tuesday, while Sino Land rose 3.3 per cent to 14.98 after losing 0.5 per cent previously.

Sany Heavy Equipment surged 46 per cent to 7.03 on its debut, while another first-timer, Fantasia, rose 2.3 per cent to 2.23.

But concerns that they will need to sell shares to raise capital dealt a blow to Chinese lenders.

Bank of China fell 3.0 per cent to 4.48 and Bank of Communications slid 1.9 per cent to 9.38.

SHANGHAI

Up 2.07 per cent. The Shanghai Composite Index, which covers both A and B shares, was up 66.64 points at 3,290.17.

The index shed 3.45 per cent in the previous session after the banking regulator warned institutions Monday to beef up their debt defences or face sanctions.

But uncertainties posed by an upcoming government conference on next year's economic planning weighed on sentiment.

Among the most actively traded stocks Wednesday were Zijin Mining Group, which ended up 6.5 per cent at 10.98 yuan, and Haitong Securities, which rose 3.4 per cent to 16.11 yuan.

All 28 stocks on the ChiNext board rose. Beijing Ultrapower Software Co Ltd and Zhejiang Enjoyor Electronics Co Ltd both surged by the 10 per cent daily limit to close at 114.07 yuan and 46.42 yuan respectively.

SEOUL

Up 0.34 per cent. The KOSPI gained 5.46 points to 1,611.88.

Bargain hunting helped drive the market in otherwise lacklustre trade, dealers said.

TAIPEI

Up 0.54 per cent. The weighted index rose 41.75 points to 7,756.31.

The market was lifted by growing demand for flat panels and a positive outlook for the liquid crystal display industry next year, dealers said.

SINGAPORE

Up 0.46 per cent. The Straits Times Index rose 12.86 points to 2,792.84.

Commodity-related stocks finished mostly higher. Noble Group gained 12 cents to 3.02 dollars, Olam International rose eight cents to 2.69 and Straits Asia Resources was six cents firmer at 2.29.

But Singapore Airlines eased 10 cents to 13.68 and Singapore Telecommunications dropped two cents to 2.94.

BANGKOK

Up 2.88 per cent. The Stock Exchange of Thailand rose 19.47 points to 695.69.

Coal producer Banpu soared 22.00 baht to close at 524.00 baht, PTT Plc rose 8.00 baht to 229.00 and its subsidiary PTT Exploration and Production gained 6.00 baht to 132.00.

Bangkok Bank added 2.00 baht to 114.00 baht, Siam Commercial Bank was up 2.25 to 81.00 baht.

KUALA LUMPUR

Flat. The Kuala Lumpur Composite Index fell 1.09 points to 1,271.00.

Gaming and power firm Tanjong lost 0.90 per cent to 16.28 ringgit, CIMB bank was down 0.90 per cent to 12.88 but carmaker Proton added 8.10 per cent to 4.01.

JAKARTA

Down 0.42 per cent. The Jakarta Composite Index lost 10.36 points to 2,461.52.

Bakrie & Brothers shed 2.0 per cent to 100 rupiah, while coal miner Bumi Resources lost 1.0 per cent to 2,600.

Energy company Energi Mega Persada dropped 15 per cent to 235 rupiah.

MANILA

Down 0.34 per cent. The index lost 10.36 points to 3,064.30.

Property firm Megaworld fell 2.74 per cent to 1.42 pesos while miner Century Peak Metal Holdings was up 4.69 per cent to 6.70 pesos and Philex Mining adding 1.32 per cent to 19.25 pesos.

MUMBAI

Up 0.40 per cent. The 30-share Sensex index closed up 67.87 points to 17,198.95.