U.S. stocks rose sharply on Wednesday in a dramatic turnaround from deep overnight losses as Wall Street embraced the upset presidential election victory of Republican Donald Trump.
After warning for months that a Trump White House would create uncertainty and damage sentiment, investors poured money into sectors that may benefit from the former reality TV show star's victory.
That was a steep reversal from the previous night, when financial markets reacted violently as Democrat Hillary Clinton's path to victory disintegrated and S&P futures ESc1 dropped 5 percent before a trading limit kicked in.
Asian shares rebounded on Thursday and the dollar firmed in a remarkable snapback from the shock of Republican Donald Trump's presidential victory, though the speed of the reversal left some market watchers scratching their heads.
The Nikkei duly recouped all of Wednesday's 5 percent loss and more to trade up roughly 6 percent as the yen weakened following the previous session's surge.
MSCI's broadest index of Asia-Pacific shares outside Japan bounced 1.7 percent after dropping 2.4 percent on Wednesday as global markets plunged as Trump swept to power.
Reference: Reuters
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