Asia Stocks Rocket; Europe Up at Open

Hang Seng soars, Nikkei closes up after dreadful Monday

By Jason Farago

Posted Oct 28, 2008 5:54 AM CDT

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Asia Stocks Rocket; Europe Up at Open — A passer-by looks at an electronic stock board in downtown Tokyo, Japan, Tuesday, Oct. 28, 2008. The benchmark Nikkei 225 index fell 67.76 points to 7,095.14 at the end of the morning session. (AP Photo/Itsuo Inouye)

Asian markets posted dramatic gains after a punishing Monday, as investors reacted to favorable moves in the currency markets. In Hong Kong the Hang Seng surged in afternoon trading to close up 14.4%—its biggest one-day gain in 11 years—while in Tokyo the Nikkei ended up 6.5% despite early falls. This morning in London the FTSE opened up as oil giant BP announced impressive third-quarter profits.

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