Asian shares rallied 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.
MSCI's broadest index of Asia-Pacific shares outside Japan bounced 2 percent after slumping 2.4 percent on Wednesday as global markets plunged on signs that Trump was sweeping to power.
Japanese stocks soared on Thursday and posted their biggest gain in nine months in a turnaround just as dramatic as the previous day's plunge, as markets reassessed the economic implications of Republican Donald Trump's shock U.S. presidential election victory.
The Nikkei share average ended 6.7 percent higher to 17,344.42, posting the biggest daily percentage gain since mid-February. It more than recouped the 5.4 percent loss on Wednesday in its biggest daily drop since Brexit in June.
China stocks rose to a fresh 10-month high on Thursday, joining a surprise turnaround in global markets in the wake of a shock win for Republican Donald Trump in the U.S. presidential election.
The benchmark Shanghai Composite Index .SSEC gained 1.4 percent to 3,171.28 points, its highest since Jan. 8, while the blue-chip CSI300index .CSI300 advanced 1.1 percent to 3,390.61 points.
Hong Kong stocks rebounded on Thursday from the previous session's 3-month low as global markets made a dramatic U-turn after a punishing selloff in the wake of Republican Donald Trump's shock win in the U.S. presidential election.
The Hang Seng index rose 1.9 percent, to 22,839.11, while the China Enterprises Index gained 1.8 percent, to 9,545.85 points.
Reference: Reuters
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