Strong rebound in Asia despite US, European sell-offs amid pandemic

By Takehiko Kambayashi,

Tokyo - By Takehiko Kambayashi, – Asian stocks bounced back strongly on Tuesday despite heavy overnight losses on Wall Street and European bourses due to the coronavirus pandemic.
Japan’s benchmark Nikkei 225 Stock Average surged 7.13 per cent on the day,

bolstered by the Bank of Japan’s purchases of exchange-traded funds and bargain hunting after recent losses.

South Korea's Kospi soared 8.6 per cent, buoyed by optimism over the government’s rescue packages as well as stimulus measures overseas, according to Yonhap News agency. The Kospi index plunged 5.34 per cent on Monday.
Australia's benchmark S&P/ASX200 index closed up 4.17 per cent while the broader All Ordinaries index rose 4.15 per cent.
Taiwan shares closed up 4.45 per cent and Hong Kong's Hang Seng Index jumped 4.46 per cent while the Shanghai Composite index climbed 2.34 per cent.

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