The MSCI Asia Pacific Index jumped as much as 3.9%, heading for its best day since November 2022, following a rout of more than 6% on Monday.
Markets in Asia Pacific saw broad-based selling with Japanese equities experiencing the sharpest sell-off in the region, with the Nikkei 225 index down more than 12% partly because of the yen’s sharp gains. Tech-driven markets like Taiwan and South Korea also fell by more than 8%.
That said, the Nikkei 225 Stock Average and Topix rebounded more than 10%, the most since October 2008, as exporters such as tech companies and automakers surged after the yen slumped about 1% against the dollar.
