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The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
May 6, 2025 DOWNLOAD
View all Reports
Equities 1 MIN READ

Japanese shares rebound sharply in opening trade after rout

August 6, 2024By Reuters
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Oil prices surge around 1% on optimism over China's recovery January 18, 2023 Sterling slips vs dollar, bounces off 3-month low against the euro March 31, 2022 Gold prices gain on hopes of smaller US rate hikes January 9, 2023

TOKYO – Japanese stocks rebounded sharply in early trade on Tuesday, after their biggest single-day rout since the 1987 Black Monday sell-off in the previous session.

The Nikkei rallied 8.1% at 34,004.22 as of 0026 GMT, while the broader Topix was up 8.57%.

The Nikkei plunged 12.4% on Monday in its worst performance since the October 1987 crash, as investors were shaken by last week’s plunge in global stock markets, US recession risks, and worries investments funded by a cheap yen were being unwound.

Monday’s collapse was a “reminder that it is next-to-impossible to diversify equity risk by region (or by sector or style) during major corrections or bear markets,” said Stephen Dover, chief market strategist and head of Franklin Templeton Institute at Franklin Templeton.

“Opportunity will arise, but in our view, it is premature to step in at this point.”

(Reporting by Brigid Riley and Vidya Ranganathan; Editing by Shri Navaratnam)

 

This article originally appeared on reuters.com

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