Stockmarkets hold firm

Stockmarkets on Tuesday shrugged off the uncertainties over technology stocks and the US elections which prompted earlier declines in share prices.

Most Asian markets, with the notable exception of Japan's, closed firmer on Tuesday.

And in Europe, markets in Frankfurt, London and Paris were higher in early trade.

Monday saw a global rout in stockmarkets, with the US-based Nasdaq index, home to most of America's large and emerging technology, internet and telecoms companies, falling to a year low.

The index crashed below 3,000 points for the first time in more than a year, to close 40% below its March peak.

Investors wary

The falls were blamed on the continuing uncertainty surrounding the result of the US election, and ill-received results from Hewlett Packard, the latest in a string of tech firms to disappoint investors.

Manic Monday

Germany: Dax ends 109 points lower at 6,742

Hong Kong: Hang Seng ends 573 points down at 14,815

Japan: Nikkei 225 closes 323.9 lower at 14,664.6

Paris: Cac ends 104.9 points lower at 14,815

UK: FTSE 100 closes 125 points down at 6,274.8

US: Dow Jones closes 85.70 lower at 10,517.25

US: Nasdaq closes 62.24 lower at 2,966.75

But observers said bargain hunters crept back into markets on Tuesday, even in Tokyo where the benchmark Nikkei 225 index closed 4.60 lower at 14,660.04.

The Nikkei had earlier fallen to 14,549.73.

London was additionally buoyed by better-than-expected results from Vodafone, the world's largest mobile phone operator.

The results will provide welcome relief to a technology, media and telecoms sector battered this autumn following profits warnings from IT giants including Dell, Intel and Apple.

On Tuesday, South Korea's main shares index closed 2.6% higher at 552.99.

Hong Kong's Hang Seng index gained 1.27% to 15,004.38, with Singapore's index of leading shares putting on 1.7% to 1,970.80.

Malaysia's Kuala Lumpur index stood 0.83% higher at 743.32 in afternoon trade.