HONG KONG (MarketWatch) -- Asian markets surged Wednesday, boosted by a strong rebound on Wall Street overnight, with gains in Tokyo led by financials such as Mizuho Financial Group as well as exporters such as Nintendo Co. while Hong Kong was led higher by a rise in China MobileThe Nikkei 225 climbed 334 points in afternoon trading, an advance of 2.2%, to 15,460.39. The broader Topix index was up 3% to 1,498.18 in Tokyo. Both indexes had declined in the previous eight trading sessions, hitting 52-week lowsHong Kong's Hang Seng Index jumped 3.7% in the morning session, rising 1,023 points to 28,826.98. The Hang Seng China Enterprises Index was up 4.9% to 17,510.46"The trouble is at the moment there is so much whiplash in the market, I'm not sure how long a consolidation counts for," said Andrew Sullivan, head of trading at Daiwa Securities SMBC in Hong Kong. "There is so much liquidity in Asia, consolidations that might have taken four or five days are now being done in two days."