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Japan stocks rebound 9% after historic losses; other Asia markets also recover

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The rebound follows a sharp sell-off in the U.S. with the Dow and the S&P 500 notching their worst sessions since September 2022.

The Reserve Bank of Australia released its RBA cash on Tuesday, with the rate remaining steady at 4.35%.Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets were also higher.— which saw its largest loss in the previous session since the 1987 Black Monday crash — as well as the broad-based Topix gained 9% after reaching session highs of over 10%.

West Texas Intermediateshowed a larger-than-expected fall year over year, dropping 1.4% in real terms. The average monthly income per household was up 3.1% in real terms from the previous year.in June compared to a year ago, the first time that wages have risen in 26 months. A strong wage growth offers more room to the Bank of Japan to tighten its monetary policy.at 4.35% on Tuesday, as expected by economists.

 

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