- First Guy
- Posts : 2599
Join date : 2014-02-22
Asia stocks up as Wall Street rally calms markets, dollar surges
TOKYO (Reuters) - Asian stocks rose on Thursday as a sharp rebound on Wall Street helped soothe investors' tattered nerves, while the dollar rallied as risk aversion eased.
Stock markets around the world had tumbled earlier in the week as a slump in Shanghai shares fueled worries over China's economic health, but some calm returned after Beijing rolled out strong policy easing steps late on Tuesday.
Japanese and South Korean stocks gained strongly on Wednesday after U.S. stocks racked up their biggest one-day gain in four years.
Ironically, U.S. stocks rallied on Wednesday on expectations that the Federal Reserve will hold off from hiking interest rates next month due to mounting global uncertainties, including China - the very factors that prompted heavy selling in the previous sessions.
The Dow (DJI) jumped 4 percent and the S&P 500 (SPX) rose 3.9 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) rose 0.4 percent early on Thursday, pulling away from a three-year low hit earlier in the week.
Tokyo's Nikkei (N225) rose 2 percent and added to the previous day's 3.2 percent gain, while South Korea's Kospi (KS11) climbed 0.7 percent. Australian shares (AXJO) advanced 0.7 percent.
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http://www.investing.com/news/stock-market-news/asia-stocks-up-as-wall-street-rally-calms-markets,-dollar-surges-357889
- sereneTop contributor
- Posts : 4850
Join date : 2014-02-26
Re: Asia stocks up as Wall Street rally calms markets, dollar surges
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