The stock market continued to trade in negative terrain because of heavy selling action witnessed across some of the frontline stocks.

Auto, consumer goods, metal and IT stocks have registered sharp losses.

While some modest buying was seen in the smallcap space, a number of midcap stocks were struggling in the red zone because of sustained selling pressure.

The market breadth was weak. Out of 2381 stocks, 1329 stocks were down in the negative territory. 961 stocks recorded gains and 91 stocks traded flat.

Hong Kong  - Bargain-hunters drove Hong Kong share prices up by more than 2 per cent Friday as nerves eased slightly following heavy losses a day earlier.

The blue-chip Hang Seng Index rose 321.31 points, or 2.43 per cent, to end the week at 13,542.66 points. Turnover was a relatively light 44.7 billion Hong Kong dollars (5.76 billion US dollars).

The minor rebound came after the index fell back more than 5 per cent Thursday. Shares jumped more than 3.5 per cent in early trading Friday but fell back later in the day.

Tokyo - Stocks bounced back Friday in Tokyo on the back of Wall Street's overnight rise and the yen weakening against the dollar.

The Nikkei 225 Stock Average rose 223.75 points, or 2.72 per cent, to close at 8,462.39.

The broader Topix index of all first-section issues was also up 9.38 points, or 1.12 per cent, to 846.91.

Investors scooped up mainly export-oriented issues on a weaker yen as it helps boost earnings of Japanese firms.

For the week, Nikkei dropped 1.41 per cent, and Topix fell 3.65 per cent.

Indian equities rallied at the opening time on the back of encouraging global signals and domestic inflationary figures calming down to single digit levels.

But, stocks tumbled into the red zone because of profit booking.

Realty, metal stocks gained ground, while consumer goods, IT and oil & gas stocks have shed a major portion of their early gains.. BSE Midcap and Smallcap index declined 0.38% and 0.19% respectively.

The 30-share index BSE Sensex, today, opened with a gain of 262.92 points, at 9,799.25.

Manila - Philippine share prices rose 3.078 per cent on Friday as investors snapped up bargain stocks on positive economic prospects despite the global financial crisis.

The 30-share composite index of the Philippine Stock Exchange added 59.08 points to close at 1,978.05 from Thursday's finish of 1,918.97.

A total of 1.004 billion shares worth 1.373 billion pesos (28.02 million dollars) were traded.

Gainers led losers 49 to 26, while 47 issues were unchanged.

Tokyo - Stocks bounced back Friday in Tokyo on the back of Wall Street's overnight rises and the yen weakening against the dollar.

The Nikkei 225 Stock Average rose 351.15 points, or 4.26 per cent, in morning trading to 8,589.79, as investors snapped up bargains.

The broader Topix index of all first-section issues was also up 23.11 points, or 2.76 per cent, to 860.64.