Asian markets rally

Tokyo -- Most Asian stocks rallied in early trading Wednesday, spurred by Wall Street's strong closing Tuesday on the likelihood of a revised bailout plan.

Asian stocks took a beating Tuesday on the heels of Wall Street's biggest one-day point loss of 777 Monday after the House of Representatives rejected President George Bush's $700 billion bailout plan.

But the U.S. Senate was expected to vote Wednesday on an altered rescue, CNN reported.

Encouraged by the latest developments, Japan's 225-stock Nikkei index had moved ahead about 78 points, or 0.69 percent, after Wednesday's opening.

Hong Kong's Hang Seng index was up nearly 136 points, or 0.76 percent, in early trading.

Markets in Australia and Taiwan also had advanced.

Copyright 2008 by United Press International.