Japanese stocks rebound 10 percent.

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  • Japan’s Nikkei 225 and the broad-based Topix climbed more than 8%.
  • The Reserve Bank of Australia will release its RBA cash rate later today, with economists expecting the rate to remain steady at 4.35%.

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets also opened higher.

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Japan’s Nikkei 225
— which saw its largest loss in the previous session since the 1987 Black Monday crash — and the broad-based Topix gained as much as 10% before paring gains to 8%.

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The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks.

Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report.

https://www.cnbc.com/2024/08/06/asia-stock-markets-japan-household-spending-rba-rate-decision.html


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