Asian markets zoom

Asian stocks gained, lifting the region`s benchmark index from a three-year low, and US futures surged as governments took steps to shore up financial companies to prevent more failures.

Wachovia soared in US trading yesterday after a senator proposed an agency to pump capital into financial companies. Industrial & Commercial Bank of China, the nation`s biggest lender, climbed limit after the government said it will increase its controlling stake.

Japanese benchmark index Nikkei gained 378.906 points, or 3.30%, to trade at 11,868.20.

Hong Kong`s Hang Seng index rose 1,021.86 points, or 5.80%, to trade at 18,654.32.

China`s Shanghai Composite advanced 179.19 points, or 9.45%, to trade at 2,075.03.

Taiwan`s Taiex index gained 315.54 points, or 5.59%, to trade at 5,957.49.

South Korea`s Kospi index rose 64.8 points, or 4.65%, to trade at 1,457.23.

Singapore`s Straits Times gained 93.22 points, or 3.85 %, to trade at 2,512.43. (8.18 a.m., IST)