Most Asian markets rose Thursday as a better-than-expected report on U.S. durable goods orders calmed investor worries about recession in the world's largest economy, AP reported. Tokyo's Nikkei 225 index shot up 3 percent to 14,124.47. South Korea's Kospi climbed 2 percent to 1,841.22, and Hong Kong's Hang Seng Index rose 0.6 percent to 24,383.99. The gains came after Wall Street climbed overnight on U.S. government data showing that orders for durable goods in April dipped by 0.5 percent _ one-third of the drop experts had expected. That raised hopes that manufacturing might help the world's largest economy _ a major export market for Asia _ shake off a slump in its housing market. «Investors were relieved by the results,» said Masatoshi Sato, a strategist at Mizuho Investors Securities Co. Ltd. in Tokyo. The weaker yen also lifted Japanese exporters' stocks. A weak yen makes Japanese goods price competitive abroad and boosts the value of repatriated profits by local exporters. The yen stood at 104.98 to the dollar midafternoon in Tokyo, compared with 104.74 late Wednesday in New York. Toyota Motor Corp., rose 3.4 percent while rival Honda Motor Co. advanced 3.1 percent. Electronics maker Hitachi Ltd. rose 2.9 percent, while Sony Corp. advanced 3.7 percent. Bridgestone Corp., the world's largest tire and rubber products maker by sales, added 3.6 percent. In Hong Kong, improved sentiment helped drive telecoms higher. China Mobile steadied itself after several days of losses, climbing 1.5 percent to 114.60 Hong Kong dollars. The company, the world's largest mobile operator by subscribers, has plunged more than 13 percent on concerns that China's new plan to revamp its telecom industry will increase competition in the sector. Analysts said China Mobile shares were oversold. «Unless China changes its policy on mobile number mobility, we expect China Mobile to remain the dominant mobile service provider in China over the next few years,» ICEA Securities Ltd. said in a research note as it upgraded its rating on the stock to accumulate from neutral. Hong Kong's dominant telecom operator PCCW surged 9.4 percent after announcing it planned to restructure its businesses under a new holding company. PCCW said in a statement it will invite investors to buy up to 45 percent of the new holding company, HKT Group.