Sydney, Feb. 25, (dpa/GNA) – Asian markets mostly reopened higher on Friday, as traders picked up stocks at a bargain after the recent sell-off sparked by Russia’s invasion of Ukraine.
The Japanese stock market was trading sharply higher, breaking a five-session losing streak, with the benchmark Nikkei 225 closing the morning session at 26,353.58, up 1.47%, after a high of 26,419.89.
The Australian stock market was modestly higher, recouping the losses in the previous session, with the benchmark S&P/ASX 200 gaining 0.12% to 6,998.80, after touching a high of 7,045.60 earlier.
The recovery followed positive signals from Wall Street overnight, where stocks staged a turnaround over the course of the Thursday trading session.
The tech-heavy Nasdaq showed a particularly strong rebound after hitting its lowest intraday level in almost a year. It then spiked by 3.3% to reach 13,473.59, largely recuperating its heavy losses at the start of the day.
The Dow Jones Industrial initially fell significantly to just under 32,273 points, its lowest level since March 2021, but was able to more than makeup for its losses, ending the day 0.28% up at 33 223.83 points and ending a series of five consecutive losing days.
GNA