Asian markets rebounded on Tuesday, led by a sharp recovery in Japanese stocks, following reassuring comments from central bank officials, Reuters reported.
The Nikkei index surged over 10 percent to above 34,500, bouncing back from Monday’s 12.4 percent plunge, which marked its worst sell-off since the 1987 Black Monday crash.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 2.0 percent. Wall Street futures also showed signs of recovery, with S&P 500 futures up 1.5 percent and Nasdaq futures climbing 2 percent.
The market turnaround came after Federal Reserve officials sought to calm investor nerves.
Currency markets also saw a reversal of Monday’s movements, with the dollar edging up to 145.64 yen after sinking to 141.675 the previous day.
In the commodities sector, gold failed to attract safe-haven demand, while oil prices rebounded early Tuesday following news of an attack on a US military base in Iraq.
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