Asian markets mostly up after recent losses

HONG KONG: Asian shares mostly rose on Wednesday as bargain hunters moved in after a recent sell-off fuelled by concerns over Greece's debt woes and the US fiscal cliff.

The euro, which sank to a two-month low against the dollar in Europe on Tuesday, edged up against the greenback and yen.

Tokyo was 0.12 percent higher, Hong Kong added 0.20 percent, Sydney gained 0.16 percent, and Seoul eased 0.10 percent.

Shanghai was flat as dealers looked to the end of the Communist Party's latest congress, which will anoint the country's next leaders and provide an indication of future economic policy.

Mumbai was closed for a public holiday.

Regional markets have suffered big losses since last week's re-election of US President Barack Obama, with dealers fearing a stand-off in Congress in addressing the fiscal cliff of tax hikes and spending cuts that are due to come in on January 1.

If a deal is not brokered in Washington the package, drawn up during fraught spending cap talks last year, will most likely tip the world's biggest economy back into recession.

Adding to the selling pressure is uncertainty over Greece after European finance chiefs put off for a week a decision on granting Athens the latest instalment of a multi-billion-euro bailout.

And in Germany a survey showed investor confidence had worsened in November as the region's crisis began to drag on its biggest economy.