BANGKOK (AP) – Shares have advanced in Asia after the Dow Jones Industrial Average surged to its best day since 1933.
Sentiment brightened as Congress and the White House reached a deal to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.
Japan’s Nikkei 225 surged 8% Wednesday and Hong Kong jumped 3.3%. Overnight, the Dow burst 11.4% higher, while the more closely followed S&P 500 index leaped 9.4% as a wave of buying around the world interrupted a brutal month of nearly nonstop selling.
Despite the gains, investors were far from saying markets have hit bottom. Rallies nearly as big as this have punctuated the last few weeks, none lasting more than a day.