Asian stocks rose, helping the regional benchmark index rebound from the steepest plunge in eight months, after the Federal Reserve invoked emergency powers to save American International Group from collapse.
Mitsubishi UFJ Financial Group added almost 3% as concern eased the failure of AIG, the no. 1 US insurer, would cause more financial losses globally. The Federal Reserve agreed to lend as much as USD 85 billion to AIG, the largest US insurer. Woodside Petroleum rose almost 2% as oil rebounded.
Japanese benchmark index Nikkei gained 241.06 points, or 2.08%, to trade at 11,850.78.
Hong Kong`s Hang Seng index rose 293.86 points, or 1.61%, to trade at 18,594.47.
China`s Shanghai Composite advanced 8.77 points, or 0.44%, to trade at 1,995.40.
Taiwan`s Taiex index gained 121.41 points, or 2.11%, to trade at 5,878.
South Korea`s Kospi index rose 46.8 points, or 3.38%, to trade at 1,434.63.
Singapore`s Straits Times gained 11.34 points, or 0.46%, to trade at 2,472.77. (8.18 a.m., IST)
Mitsubishi UFJ Financial Group added almost 3% as concern eased the failure of AIG, the no. 1 US insurer, would cause more financial losses globally. The Federal Reserve agreed to lend as much as USD 85 billion to AIG, the largest US insurer. Woodside Petroleum rose almost 2% as oil rebounded.
Japanese benchmark index Nikkei gained 241.06 points, or 2.08%, to trade at 11,850.78.
Hong Kong`s Hang Seng index rose 293.86 points, or 1.61%, to trade at 18,594.47.
China`s Shanghai Composite advanced 8.77 points, or 0.44%, to trade at 1,995.40.
Taiwan`s Taiex index gained 121.41 points, or 2.11%, to trade at 5,878.
South Korea`s Kospi index rose 46.8 points, or 3.38%, to trade at 1,434.63.
Singapore`s Straits Times gained 11.34 points, or 0.46%, to trade at 2,472.77. (8.18 a.m., IST)
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