Asian Stocks Rebound After Brexit Vote Victory Triggers Selloff
- Japan, China rally as investors watch for central bank action
- More than $2.5 trillion wiped from global equities on Friday
Weighing Up the Global Implications of Brexit
Asian stocks rebounded from the steepest slump since August after last week’s British vote to leave the European Union roiled global markets. Rallies in Japan and China overshadowed declines in other benchmark gauges across the region.
The MSCI Asia Pacific Index rose 0.5 percent to 125.90 as of 4:27 p.m. in Hong Kong, erasing an earlier loss of as much as 0.3 percent. Japan’s Topix finished 1.8 percent higher, rebounding from its worst loss since the aftermath of the March 2011 earthquake. The Shanghai Composite Index advanced after Credit Suisse Group AG and Citigroup Inc. advised clients to buy Chinese shares following last week’s selloff. Investors are watching for policy action by central banks globally to ease the market turmoil and pump liquidity into financial markets.