Japan leads world stocks higher; Sensex up 402 pts

Japan leads world stocks higher; Sensex up 402 pts

FPJ BureauUpdated: Friday, May 31, 2019, 10:38 PM IST
article-image

Hong Kong : Fresh Chinese stimulus sparked a global stocks rally in markets that had been coloured red by fears of a slowdown in the world’s second-largest economy, with Tokyo surging almost 8%.

The pledge by China’s finance ministry to adopt a “proactive fiscal policy … and accelerate reforms that will help stabilise growth” gave markets a burst of confidence.Japanese stocks spearheaded an Asian equities rally as investors scooped up shares on the cheap, with buying also boosted by a weak yen and hopes that China’s wild market volatility was ending.

Tokyo’s Nikkei-225 index leapt 7.71% or 1,343.43 points to 18,770.51. That was the biggest one-day jump since global financial crisis and Lehman Brothers bankruptcy of late 2008, when markets faced heavy volatility.

The benchmark BSE Sensex surged 402 points to settle at a one-week high 25,719.58. The index has now covered up 826 points in two sessions. The rupee firmed up to 66.41 against the US dollar, which contributed to the positive sentiment.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...