Tycoon voted Asia's most powerful person

Thousands rushed to buy shares in Li's tom.com

A Hong Kong business tycoon has been named in a magazine poll as Asia's most powerful person in Asia, topping the region's political leaders.

Tycoon Li Ka-shing came top in Asiaweek magazine's "Power 50" list, followed closely by Chinese President Jiang Zemin.

Third in the list was the Sony Corp chairman Idei Nobuyki.

'Clicks and mortar'

Asiaweek said Mr Li was ranked top because of his "exponentially-increasing wealth and the enormous power it brings".

Li Ka-shing is known as "Superman" for his ability to clinch successful deals

Billionaire Mr Li, 71, as a leader among Asia's traditional "bricks and mortar" companies that had crossed into the so-called "new economy".

"His is the ultimate 'clicks and mortar' conglomerate," said the magazine's editor Ann Morrison. Among his internet ventures is Chinese portal tom.com.

Mr Li - listed by Forbes as the sixth richest man in the world - controls several leading Hong Kong companies including Cheung Kong Holdings and telecoms-related Hutchinson Whampoa.

Asia's 10 Most Powerful People

1. Li Ka-shing

2. Jiang Zemin

3. Idei Nobuyki

4. Kim Dae-Jung, South Korean president

5. Kim Jong-Il, North Korean leader

6. Chen Shui-bian, Taiwanese president

7. Abdurrahman Wahid, Indonesian president

8. Son Masayoshi, CEO Softbank

9. AB Vajpayee, Indian prime minister

10. Zhu Rongji, Chinese premier

Hutchinson made enormous profits this year when it sold its shares to the UK firm Orange.

Known as "Superman" for his ability to clinch deals, he is also involved in power supply, supermarkets and a highway construction project in China.

He also has strong political influence in China and Hong Kong.

Born in Shantou, China, in 1928, he started his business selling plastic flowers in Hong Kong in the post-war years.

His son Richard Li - ranked 14th on the list - has just signed a deal for his company to build Hong Kong's Cyberport project.