HONG KONG (AP) — Most Asian markets rallied Thursday, with Hong Kong shares rising sharply and Japanese stocks hitting a fresh nine-month high, led by gains in communication and Internet-related stocks.Australian and Singaporean stocks also closed at record highs.

Tokyo’s Nikkei 225 index climbed 136.08 points, or 0.78 percent, to 17,519.50 — the highest close since April 7.

Stocks opened lower as traders sold securities and bank issues, but rebounded later on the back of gains in communication issues. Traders also took their cue from Wall Street where stocks rose overnight.

In Hong Kong, the blue chip Hang Seng Index rose 323.74 points, or 1.6 percent, to finish at 20,430.16, led by property shares after the Federal Reserve’s decision to keep interest rates steady at at 5.25 percent.SHANGHAI: China shares ended mixed, as bargain hunting offset concerns that regulators may take measures to cool high stock prices. The benchmark Shanghai Composite Index edged down 0.03 percent to 2,785.43. The Shenzhen Composite Index rose 0.6 percent to 659.33.

SYDNEY: Australian stocks reached record highs as rising U.S. markets and commodity prices provided a warm welcome to what is tipped to be another strong February company reporting season. The benchmark S&P/ASX200 index rose 40.7 points, or 0.7 percent, to a record 5,814.1.