Most equities rallied Tuesday after the previous day’s global rout fuelled by US recession fears that have led to calls for the Federal Reserve to cut interest rates before its next meeting.
Tokyo, which suffered a record loss Monday, led the gains as it soared more than 10 per cent as traders bought beaten-down stocks caught up in a catastrophic day for markets.
Tokyo’s Nikkei, which tanked more than 12 per cent Monday and suffered a record points loss, jumped 10.2 per cent.
Toyota was up more than 12 per cent, Sony piled on more than nine per cent and chip giant Tokyo Electron added 16.6 per cent.
Shanghai, Sydney, Seoul, Taipei, Mumbai, Bangkok and Manila also rose but Hong Kong gave up early gains to sit marginally in the red.
Singapore and Wellington also suffered more sales.
London edged up after shedding around two per cent Monday, while Paris and Frankfurt were…