World leaders congratulated George Bush on his presidential triumph with a series of positive reactions that cut broadly across party and ideological divisions.

The Soviets said they expected they could work with Bush. European and Japanese leaders looked forward to continuity of U.S. policy set by President Reagan.Israel and Egypt welcomed Bush's victory and the Palestine Liberation Organization hoped Bush would champion Palestinian aspirations to statehood.

Nicaraguan and Costa Rican leaders expressed some optimism, but a pro-government newspaper in Managua chided the Bush win.

In many countries, local radio and television stations carried results and live broadcasts through the night.

Soviet Foreign Ministry spokesman Gennady I. Gerasimov, asked in a telephone interview whether a summit was likely early in the Bush administration, replied: "Yes, it is quite possible in my view - quite possible."

In China, where Bush had served as U.S. ambassador, the official news agency said the president-elect "boasts a rich experience in public service unmatched by most of his predecessors." The Foreign Ministry cabled "our warm congratulations" and hoped Bush would help U.S.-Chinese relations develop "in a stable and healthy manner."

Prime Minister Margaret Thatcher of Britain, senior stateswoman of the Western alliance, stayed up all night watching results and pledged her country's staunch support.

She came to the doorstep of her residence at No. 10 Downing St., telling reporters she wanted to be among the first to congratulate him.

In Nicaragua, where U.S.-supported rebels are fighting the government, El Nuevo Diario quoted President Daniel Ortega as saying the Bush administration could pave the way for talks and improved relations.

The same newspaper announced the Bush victory with the proverb, "a one-eyed man is king in a country of the blind."

"Nicaragua is ready to begin a serious and formal dialogue with the United States to try to normalize relations," Ortega said late Tuesday night. But he said such a dialogue would involve only "mutual security issues" and could not involve domestic policy issues inside Nicaragua.

President Oscar Arias of Costa Rica said he expected full support from Bush in implementing his Central American peace plan.

French Foreign Minister Roland Dumas said his socialist government sent congratulations, and he told French radio that Bush "is serious, a hard worker with a lot of experience in foreign affairs. He's very attentive to Europe and has a good relationship with President (Francois) Mitterrand."

Paris Mayor Jacques Chirac, a former conservative premier, cabled: "Mr. President, my dear George, bravo for this magnificent victory, which for my part I never doubted."

A Japanese Foreign Ministry statement expressed confidence that "Japan-U.S. relations will be further strengthened and developed in the new era."

President P.W. Botha of South Africa cabled Bush his hopes that U.S.-South African relations would be "strengthened on the basis of mutual respect and understanding."

Philippine President Corazon Aquino said she hoped Bush's leadership "will set up another milestone" in U.S.-Philippines relations.

Foreign Minister Shimon Peres of Israel said he expected Bush to launch a new Mideast peace initiative, while Prime Minister Yitzhak Shamir was said by a spokesman to be "confident and hopeful that the excellent ties with the United States will continue as they are now."