Japan stocks rebound 8% after historic losses; other Asia markets also open higher

The Reserve Bank of Australia will release its RBA cash rate later today, with economists expecting the rate to remain steady at 4.35%.

Japan stocks rebounded on Tuesday, following an over 12% drop in the Nikkei 225 and the Topix in the previous session. The broader Asia-Pacific market was also set to recover, futures data showed.and the broad-based Topix climbed over 7% on open. On Monday, the Nikkei saw its largest loss since Black Monday in 1987.Sign up for our free Olympics Headlines newsletter.

South Korea's Kospi jumped almost 3% while the small cap Kosdaq was up 3.75%. The rebound comes after South Korean markets were halted temporarily on Monday after circuit breakers activated.showed 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. The larger than expected fall could restrain the BOJ's plans to raise rates.

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