Nikkei’s 7.7% surge biggest one-day gain in 7 years

September 9, 2015 9:32 AM

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Nikkei’s 7.7% surge biggest one-day gain in 7 years

Japan’s Nikkei 225 notched up its biggest one-day percentage gain since the depths of the financial crisis, surging 7.7 per cent and leading an Asia-wide rally as investors pinned their hopes on prolonged monetary and fiscal stimuli.

Markets leapt higher on the possibility that the Federal Reserve might delay raising interest rates this month. The prospect of proactive fiscal policy in China to counter the slowing economy, while vague, and the covering of short positions in Tokyo also served to propel markets higher.

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