Asian stocks rebound as risk-on returns

The stocks on the Asian bourses stage a solid comeback on Friday, reversing a part of the previous sell-off, on the back of a positive close on the Wall Street overnight after risk sentiment witnessed a major turnaround on the news of suspension of the Brexit campaign after a member of parliament was shot dead.

Moreover, a rebound in the oil prices further boosted the sentiment and now provided the much needed impetus to the energy and resource stocks on the index. While the yen retreated from multi-month tops amid improving risk conditions, which lent support to export-oriented stocks.

Asia awaits Fed

The Japanese benchmark index, the Nikkei 225 bounces +1.63% to 15,685, as USD/JPY rebounds to 104.60 levels, up +0.29% on the day. The Australian markets remained underpinned by higher commodities’ prices, with the ASX 200 index now trading +0.27% higher at 5,160.

While the Chinese equities also followed suit, with the benchmark Shanghai Composite index advancing +0.82% to trade near 2,900 levels, the CSI300 index gains +1.05% to 3,130. Hong Kong’s Hang Seng rallies +1.02% to 20,240.