Asian share markets joined a global rebound on Wednesday as the immediate drag from the Brexit vote began to ebb and investors wagered central banks would ultimately ride to the rescue with more stimulus measures.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 percent to recoup around a third of Friday's stinging loss. Japan's Nikkei climbed 1.4 percent, while Australian stocks added 0.8 percent.
Any bounce was welcome, given global equity markets shed $3 trillion in value in the two days following Britain's shock vote, according to S&P Dow Jones Indices. Investors also pointed to solid U.S. economic data as helping to steady the ship.
Yet Britain's course out of the EU remains unknown, leaving the future of the entire bloc and its currency an open question.
"The only certainty in Europe is uncertainty," said analysts as Australia and New Zealand Bank in a note.
"European leaders appear to want to move forward with Brexit plans as quickly as possible, but political turmoil within Britain suggests a quick turnaround is unlikely.
Japanese stocks rose on Wednesday, tracking a recovery in global equities as Brexit concerns eased somewhat for the time being.
Capping its third day of gains, Japan's Nikkei share average jumped 1.6 percent to close at 15,566.83. The index has reclaimed roughly half of the territory lost Friday when it tanked 7.9 percent to its lowest since Feb. 12 on the Brexit shock.
China stocks tracked global markets higher to a three-week closing high on Wednesday as authorities sought to calm anxiety over potential shifts in Beijing's currency policy following last week's Brexit vote.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.5 percent, to 3,151.39, while the Shanghai Composite Index gained 0.7 percent, to 2,931.59 points.
Reference: Reuters
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