U.S. stocks rallied after the biggest rout since June wiped about $500 billion from the value of equities, while the dollar weakened as the Federal Reserve’s Lael Brainard remained dovish in her approach to tighter monetary policy. Emerging-market assets slumped.
The S&P 500 rose 1.5 percent to 2,159.04 as of 4 p.m. in New York, reversing course in the wake of its worst selloff since June. The rebound delivered the index its second day with a move of more than 1 percent, after it had gone 43 days without a move of that magnitude in either direction.
Asian stocks rose early on Tuesday, boosted as Wall Street rallied overnight after Federal Reserve Board Governor Lael Brainard brought relief to risk asset markets by reducing prospects of a near-term interest rate hike.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.5 percent.
Reference: Bloomberg, Reuters
Thai
Eng