Japanese stocks soar as Asia rides global rally
- 9 years ago
Asian shares extended a global rally on Wednesday, with markets in China stabilising and Japanese stocks posting their biggest one-day gain since the height of the global financial crisis in 2008.
The upbeat mood was set to lift Europe, with financial spreadbetters expecting Britain's FTSE 100 to open up as much as 2.2 percent, Germany's DAX 3.6 percent higher, and France's CAC 40 2.2 percent higher.
Japan's Nikkei soared 7.7 percent, its biggest single-day gain since October 2008, apparently galvanized by hopes of corporate tax cuts.
Prime Minister Shinzo Abe said the government aims to lower the corporate tax rate by a cumulative 3.3 percentage points over two years through the next fiscal year starting in April 2016.
The upbeat mood was set to lift Europe, with financial spreadbetters expecting Britain's FTSE 100 to open up as much as 2.2 percent, Germany's DAX 3.6 percent higher, and France's CAC 40 2.2 percent higher.
Japan's Nikkei soared 7.7 percent, its biggest single-day gain since October 2008, apparently galvanized by hopes of corporate tax cuts.
Prime Minister Shinzo Abe said the government aims to lower the corporate tax rate by a cumulative 3.3 percentage points over two years through the next fiscal year starting in April 2016.