Asian markets recover, Tokyo rebounds strongly

HONG KONG: Asian markets recovered Friday after heavy falls a day earlier, with Tokyo surging back from its worst one-day drop since the March 2011 quake-tsunami disaster as investors moved to recoup losses.

Markets moved back up after falling Thursday on signs the US Federal Reserve could scale back massive stimulus measures and after weak Chinese factory data.

Tokyo, which fell more than seven percent the previous session, had bounced back 2.65 percent by the break.

Seoul was up 0.13 percent, Shanghai rose 0.43 percent and Hong Kong climbed 0.12 percent.

Sydney was down 1.36 percent.

US stocks ended slightly lower Thursday, with the Dow Jones Industrial Average falling 0.08 percent, or 12.67 points, to 15,294.50.

But European markets took a heavier hit, with most indices, including London, Frankfurt and Paris, dropping more than two percent, following the Asian lead.

Kenji Shiomura, strategist at Daiwa Securities, said Thursday's frenzied selling in Tokyo was a temporary correction to recent sharp advances.

"There has not been any grave event that could change corporate earnings outlooks and what happened yesterd