SYDNEY, Australia – Stocks in Asia recovered a lot of lost ground on Wednesday, the biggest mover being the Japanese market.
The Nikkei 225 jumped 1,454.28 points or 8.04% to 19,546.63.
The Australian All Ordinaries rallied 252.90 points or 5.32% to 5,006.20.
China’s Shanghai Composite gained 59.15 points or 2.17% to 2,781.59.
In Hong Kong, the Hang Seng appreciated 863.70 points or 3.81% to 23,527.19.
On foreign exchange markets there was little movement since the New York close of a day earlier. The euro however gained a few points to 1.0806. The British pound rose to 1.1827.
The Japanese yen remained weak at 111.43.
The Swiss franc firmed a taf to 0.9815. The Canadian dollar wa sa quarter-cent higher at 1.4371.
The Australian dollar hurdled the 0.6000 level, quite a feat since it was traded at 0.5510 just days ago. The New Zealand dollar firmed to 0.5873.
Overnight on Wall Street, the Dow Jones Industrial Average was ahead 2,112.98 points or 11.37% at 20,704.91. According to Reuters the Dow’s one-day percentage gain was the best since 1933.
The Standard and Poor’s 500 advanced 209.93 points or 9.38% to 2,447.33.
The Nasdaq Composite climbed 557.18 points or 8.12% to 7,417.86.