Tokyo's historic stock market crash has recovered

» Published: Fri 9 Aug 2024 05:29 CEST

Tokyo's historic stock market crash has recovered
Photo: Kyodo News via AP/TT

Share this article

It was upwards, strongly upwards, for leading stock market indices in Asia after Friday's initial trading. And the Tokyo Stock Exchange had almost fully recovered after the historic 12 percent crash on Monday.

A strong rebound occurred already the day after the crash, but the week has continued in the same spirit. Traders have begun to see Monday's wild selling pressure as an overreaction, and figures on unemployment benefit applications in the US, fewer than expected, suggest that the downturn scenarios may have been overinterpreted, and Asian stock markets have turned upwards again, following Wall Street.

In Tokyo, the Nikkei 225 index was up 1.6 percent by lunch and the Topix index plus 1.5 percent.

In China, the composite indices in Shanghai and Shenzhen were both up around 0.3 percent.

In Hong Kong, the Hang Seng index was up 1.8 percent, and for South Korea's Kospi index, the increase was 1.5 percent.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Judge Halts Trump's Firing of Federal Reserve Member Lisa Cook
1 MIN READ

Judge Halts Trump's Firing of Federal Reserve Member Lisa Cook

Klarna Valued at 140 Billion Kronor Ahead of NYSE Listing
4 MIN READ

Klarna Valued at 140 Billion Kronor Ahead of NYSE Listing

Wall Street Hits New Highs Amid Job Data Concerns
2 MIN READ

Wall Street Hits New Highs Amid Job Data Concerns

EU Clothing Manufacturers to Bear Costs of Textile Waste
1 MIN READ

EU Clothing Manufacturers to Bear Costs of Textile Waste

Norway Sets Fixed Electricity Price from October 1
1 MIN READ

Norway Sets Fixed Electricity Price from October 1

Volvo Cars CEO Håkan Samuelsson Plans to Find Successor in Two Years
2 MIN READ

Volvo Cars CEO Håkan Samuelsson Plans to Find Successor in Two Years

Sweden Hotels See Strong Summer with 6% Rise in Occupancy
1 MIN READ

Sweden Hotels See Strong Summer with 6% Rise in Occupancy

Media Investments Decline in August as Digital Grows
1 MIN READ

Media Investments Decline in August as Digital Grows

Peab to Build Hitachi Energy Facility in Västerås for 1.1 Billion Kronor
1 MIN READ

Peab to Build Hitachi Energy Facility in Västerås for 1.1 Billion Kronor

Ikea partners with Best Buy to expand kitchen solutions in the US
1 MIN READ

Ikea partners with Best Buy to expand kitchen solutions in the US

Stockholm Stock Exchange Dips by Lunchtime
1 MIN READ

Stockholm Stock Exchange Dips by Lunchtime

ASML Invests 1.3 Billion Euros in French AI Firm Mistral
1 MIN READ

ASML Invests 1.3 Billion Euros in French AI Firm Mistral

Klarna's Stock Market Debut Features Limited Share Availability
3 MIN READ

Klarna's Stock Market Debut Features Limited Share Availability

Nikkei Reaches Record High Amid Japanese Market Surge
1 MIN READ

Nikkei Reaches Record High Amid Japanese Market Surge

Murdoch Family Finalizes Future Control of Fox After Rupert's Passing
1 MIN READ

Murdoch Family Finalizes Future Control of Fox After Rupert's Passing

Wall Street Sees Modest Gains as Trading Week Begins
1 MIN READ

Wall Street Sees Modest Gains as Trading Week Begins

Railway Derailments Disrupt Swedish Industry and Economy
3 MIN READ

Railway Derailments Disrupt Swedish Industry and Economy

Brazil's Lula Criticizes Trump's Tariffs at Brics Meeting
1 MIN READ

Brazil's Lula Criticizes Trump's Tariffs at Brics Meeting

Swedish Pensions Agency Reclaims 48 Million Kronor for Allra Victims
2 MIN READ

Swedish Pensions Agency Reclaims 48 Million Kronor for Allra Victims

Space X Acquires Network Spectrum from Echo Star in $17 Billion Deal
1 MIN READ

Space X Acquires Network Spectrum from Echo Star in $17 Billion Deal