Asian markets soar, as Nikkei posts biggest one-day gain in seven years

Sarah Spickernell
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The last time the Nikkei gained this much was in 2008 (Source: Getty)
Asian markets soared this morning, and the Nikkei index topped the lot.
Closing 7.71 per cent higher at 18,771 points, Japan's key index made its biggest one-day gain since 2008, when wild volatility hit markets. The Topix also made a big jump, going up 6.4 per cent to 1,507 points.
The rebound came just one day after the index suffered a 2.4 per cent drop, which wiped off all of its gains for the year so far. China released disappointing trade data for August on Tuesday, exacerbating concerns that the world's second-largest economy was continuing to slip.
Following this morning's recovery, however, the benchmark index is now 7.6 per cent up compared to the start of 2015.
Over in China, investors also showed strengthened confidence this morning, with the Shanghai Composite and Hang Seng closing 2.32 per cent higher and 3.55 per cent higher at close, respectively.
Daiwa Capital Markets commented:
No obvious economic trigger for the move, notwithstanding yesterday evening’s statement by the Chinese Ministry of Finance that it will conduct ‘stronger proactive fiscal policy’ to tackle downside risks to growth.
This morning, European markets jumped aboard the rally, rising high in the wake of Asia's gains.
At pixel time, the FTSE 100 is up 1.71 per cent at 6,251, while Germany's Dax and France's Cac 40 are up 1.73 per cent and 2.22 per cent, respectively.

9 September 2015 @ 9:00amFTSE 100 (UKX)

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