Market Report - Asian Shares Up on Bargain Hunting

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In today’s market report… Asian stock markets rose Thursday, paring losses from previous sessions as bargain-hunters bought cheaper shares.

Sydney's All Ordinaries did better than expected. It closed up by 0.8 percent, ending a four-day losing streak, with sentiment boosted by strong corporate earnings and a $600 million share buyback from Woolworths.

Tokyo shares made a mild recovery, rising from a 16-month low. Local media say the Japanese government will press the Bank of Japan to ease monetary policy further, as part of a package to support the economy.

The Nikkei 225 finished 0.7 percent higher, led by shares of Panasonic.

Shares in Hong Kong were flat as China Life stocks slumped on a steep profit decline. Investors were also awaiting earnings from top bank ICBC and Bank of China.

The Shanghai-listed shares of both banks were higher at midday, pushing Shanghai's composite up by over half a percent at the lunch-break.

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