Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets also opened higher.
Japan’s Nikkei 225 — which saw its largest loss in the previous session since the 1987 Black Monday crash — and the broad-based Topix gained over 10%.
The yen weakened over 0.62% to trade at 145.07 against the U.S. dollar.
Japan’s heavyweight trading houses all saw rebounds of over 8%, with Marubeni up over 13%. Softbank Group Corp jumped almost 10%.
South Korea’s Kospi jumped above 4% while the small-cap Kosdaq was up over 6%. The rebound comes after South Korean markets were halted temporarily on Monday after circuit breakers activated.
South Korean heavyweight Samsung Electronics rose 4.2%, while chipmaker SK Hynix climbed 5.5%.
Australia’s S&P/ASX 200 opened up 0.16%.
Oil prices also rose with Brent crude climbing 1.65% to trade at $77.56 per barrel. U.S. West Texas Intermediate crude rose 1.86% to trade at $74.30.
https://www.cnbc.com/2024/08/06/asia-stock-markets-japan-household-spending-rba-rate-decision.html
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