Japanese stocks rallied strongly on Tuesday after plunging into a bear market on Monday. The Nikkei 225 and Topix rallied nearly 10 percent, their biggest gains since October 2008. Exporters such as technology companies and automakers surged after the yen fell about 1 percent against the dollar. The sharp volatility in the stock market triggered the circuit breaker mechanism of Nikkei futures, while the implied volatility of the index also fell from its highest level since 2008.
Hideyuki Ishiguro, chief strategist at Nomura Asset Management, said: "The panic sell-off may be over, but today's market is likely to remain a roller coaster as global market jitters remain high."
Japanese stocks rallied strongly, with the benchmark index posting its biggest gain since October 2008
2024-08-06 06:33:45
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