Stocks in Asia Recover: Japan Nikkei up 6.4 percent

Asian stocks rebounded on Tuesday with Japan’s Nikkei gaining 6.4 percent on close. This came as investors rushed to buy up shares after the benchmark index tumbled to its lowest level in 26 years yesterday.

Hong Kong led the way of stock indexes rebounding 14.4 percent at close allowing the Hang Seng to recover all of the losses it suffered on Monday.

In London by midday the FTSE 100 index was trading up 2.2 percent, with Europe following in the gains, Germany showing the Dax up 6.9 percent higher with a rise of 1.8 percent in Paris.

The US futures which often gives a good indicator as to how the New York markets will open was trading sharply higher. The Federal Reserve gets set to embark on its two-day meeting on interest rates which could see them knocking at least 1 percent off the key lending rate with Wall Street prepared to join rally.

The Down Jones industrial average is down 24.7 percent with just one week left in October, the Nasdaq composite has lost 27.7 percent and the Standard & Poor’s 500 index fell 27.2 percent.

Source: moneycnn