Asia-Pacific shares were broadly higher with the Nikkei in Japan ending its last session of the year with a 1.3 per cent gain on the day, but a 42.1 per cent loss on the year – its worst annual fall.

Taiwan led the regional rally by gaining 4 per cent at one stage as the government said it would help key industries during the current slowdown, and amid reports that the island’s banks could open branches on the mainland of China next year. The Taiex closed 3.9 per cent higher at 4,589.04.