/www.fxserver.com/ HONG KONG - Many Asian stock markets closed lower Monday on jitters over a possible war in Iraq, but the key indexes edged higher both in Tokyo and Hong Kong.
Japan's Nikkei Stock Average of 225 issues gained 36.77 points, or 0.44 percent, to 8,484.93. On Friday, the index slid 36.03 points, or 0.42 percent.
The Nikkei initially slipped following Wall Street's weaker close last Friday. But both the Nikkei and TOPIX indexes rebounded as investors snapped up issues that had weakened in recent sessions, traders said.
Blue chips including Canon, Kyocera and TDK, as well as major telecom issues such as NTT and NTT DoCoMo, supported the stock market in otherwise lackluster trading ahead of a national holiday in Japan on Tuesday.
Despite the rise, investors in Tokyo remain concerned that a possible U.S.-led strike on Iraq could hurt global economic growth and topple markets.
In currency trading, the U.S. dollar was quoted at 120.33 yen, up 0.17 yen from late Friday in Tokyo and also above its late Friday level in New York of 120.22 yen.
In Hong Kong, the Hang Seng Index rose 81.19 points, or 0.89 percent, closing at 9,232.14. On Friday, the index had gained 24.80 points, or 0.27 percent.
Brokers said that there was selective buying of blue chips following recent losses.
Many investors in Hong Kong were awaiting for direction later Monday from Wall Street on concerns about a possible military conflict in Iraq.