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Asia Rebounds from Tuesday Selloff

Asia-Pacific markets rebounded across the region, led by Japan’s markets and following a broad selloff on Tuesday.

In Japan, the Nikkei 225 index recovered in a big way, rocketing 670.08 points, or 2%, to 33,445/90.

The Tankan survey, done by the Bank of Japan quarterly, measures economic conditions in Japan and the survey results are considered a key economic indicator.

In Hong Kong, the Hang Seng regained 135.4 points, or 0.8%, to 16,463.26.

Investors assessed Australia’s third-quarter GDP numbers, as well as the Reuters Tankan survey for Japan in December, which showed improving business sentiment among large Japanese manufacturers.

The country’s economy expanded 2.1% year-on-year in the third quarter, beating expectations from economists polled by Reuters.

In other markets

In Shanghai, the CSI 300 gained 5.34 points, or 0.2%, to 3,399.60.

In Singapore, the Straits Times Index sprang back up 10.08 points or 0.3%, to 3,087.24.

In Taiwan, the Taiex gained back 32.71 points, or 0.2%, to 17,360.72.

In Korea, the Kospi index inched up 1.1 points, or 0.8%, to 2,495.38.

In New Zealand, the NZX 50 leaped 106.5 points, or 0.9%, to 11,463.49.

In Australia, the ASX 200 hiked 116.8 points, or 1.7%, to 7,178.35.