TOKYO: Japan’s Nikkei share average closed 6 percent higher on Tuesday, recovering from a 1-1/2-year low hit in the previous session, as investors scooped up stocks, encouraged by signs of a recovery on Wall Street.
The Nikkei index climbed 6.03% to 33,012.58, marking its sharpest daily percentage gain since August 6.
The broader Topix also recorded a more than 6% gain, closing at 2,432.02.
“Investors bought back stocks as they thought the shares were oversold. They saw signs of a market recovery as US stock futures rose in Japan trade,” said Takamasa Ikeda, senior portfolio manager, GCI Asset Management.
The S&P 500 and the Dow closed lower, while the technology-heavy Nasdaq posted marginal gains on Monday following a roller coaster session.
US semiconductor index climbed 2.7% overnight, while S&P and Nasdaq futures each rose more than 1% in Asia trade on Tuesday, signalling cues of a recovery.
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