HONG KONG (MarketWatch) -- Most Asian markets edged higher in their first trading session of 2009, with telecom equipment maker ZTE Corp. jumping in Hong Kong on hopes that the Chinese government may soon award 3G licenses. Australian stocks gave up early gains after rising during the previous four sessions. The Indian market, one of the few major Asian stock exchanges that was open Thursday, extended gains on financials like Icici Bank and State Bank of India. The Hang Seng Index ended the morning trading session 2.3% up at 14,712.70, while the Hang Seng China Enterprises Index gained 2.5% to 8,092.25. "It's the first trading day of 2009, and it's good luck that Wall Street stocks gained in the previous two sessions ... But I'm still skeptical about the first quarter of the year, because the earnings season starting next month might be a disappointment," said Andrew To, sales director at Taifook Securities. South Korea's Kospi advanced 1.9% to 1,146.22, Singapore's Straits Times Index climbed 2.2% to 1,799.93 and Malaysia's KLSE Composite rose 1.3% to 888.37. Australia's S&P/ASX 200 Index climbed as high as 3,767.50 during the session, after rising in the previous four, before retreating. The index was recently down 0.6% to 3,699.40. India's Sensitive Index gained 0.7% to 9,968.12. Trading volumes were thin across the markets after a holiday and in the absence of cues from Wall Street, which was closed for the New Year holiday. Stock markets in Tokyo, Shanghai, Taipei, Wellington, Jakarta, Manila and Bangkok were closed for a holiday. In Sydney trading, energy shares got a lift after February crude-oil futures jumped $5.57, or 14%, to $44.60 a barrel on the New York Mercantile Exchange Wednesday. In electronic trading, the front-month contract pulled back, dropping $1.33 to $43.27 a barrel.

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