Japan shares bounce back after Tuesday's fall

Access to the comments Comments
By Euronews
Japan shares bounce back after Tuesday's fall

Japanese stocks have soared, staging their biggest advance since the aftermath of the Lehman Brothers collapse in 2008.

The Nikkei 225 jumped 7.7 percent at the close in Tokyo, reversing Tuesday’s losses when Japanese shares suffered the world’s second-steepest drop since China’s shock yuan devaluation last month.

One analyst said this was the reversal of shares having fallen so quickly and everything depended on what happened in China.

The benchmark Shanghai Composite index rose for a second day on Wednesday, adding as much as 2.7 percent.

Japan’s shares also got a boost after the prime minister pledged to lower the corporate tax rate by at least 3.3 percent next year.