Japan’s benchmark Nikkei 225 index surged over 10% just a day after triggering market tumbles in Europe and on Wall Street.
While Asian markets were mostly higher, many European indices are still expected to decline at the open due to a severe sell-off.
Japanese stocks rebounded sharply, recovering most of the double-digit losses experienced on Monday, marking their steepest decline since 1987.
The Nikkei closed 10.2% higher as investors seized bargain opportunities following the previous day’s 12.4% drop.
Overnight, nearly all Asian markets, except Singapore, saw gains. The Kospi jumped 4.3% to 2,546.64, Hong Kong’s Hang Seng index rose 0.5% to 16,775.65, and Australia’s S&P/ASX 200 edged 0.3% higher to 7,677.50.
Taiwan’s Taiex increased by 1.2% after an 8.4% plunge the day before. The Shanghai Composite index, which largely avoided Monday’s turmoil, was up slightly over 1 point at 2,861.87.
This rebound followed a sharp drop in the S&P 500, which fell 3% on Monday for its worst day in nearly two years, closing at 5,186.33.
The Dow Jones Industrial Average tumbled 1,033 points, or 2.6%, to 38,703.27, while the Nasdaq Composite slid 3.4% to 16,200.08, as former market stars like Apple, Nvidia, and other Big Tech companies continued to decline.
