South Korea's Kospi surges 11% after worst day on record
Asia-Pacific markets opened higher Thursday, rebounding after several days of steep losses.
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In this article MU AMD NVDA AVGO Follow your favorite stocks CREATE FREE ACCOUNT People walking through the neon lit night streets of Sinchon in the heart of Seoul, South Korea’s vibrant capital city. Fotovoyager | E+ | Getty Images Asia-Pacific markets jumped Thursday, rebounding after several days of steep losses as sentiment improved following overnight gains on Wall Street and easing concerns over surging oil prices. Australia's S&P/ASX 200 started the day 0.38% higher. Japan's Nikkei 225 rose 4%, after sliding 3% in the previous session. Hong Kong Hang Seng index futures were at 25,534, higher than the last close of 25,249.48. South Korea's Kospi jumped as much as 11%. The index plunged 12% on Wednesday, its worst single-day decline. The small-cap Kosdaq rose more than 11%. All eyes are also on China's big policy meeting dubbed the "Two Sessions," which kicked off on Wednesday. Overnight in the U.S., stocks rose, building on the momentum seen late in the previous session, as the surge in oil prices pulled back following developments in the U.S.-Israeli war on Iran and fears about a U.S. economic growth scare faded. The Dow Jones Industrial Average added 238.14 points, or 0.49%, to close at 48,739.41. The 30-stock index snapped a three-day run of losses. The S&P 500 gained 0.78% and ended at 6,869.50, while the Nasdaq Composite moved 1.29% higher and settled at 22,807.48. Technology stocks supported the broader market, particularly those in the chips space. Micron Technology and Advanced Micro Devices each advanced more than 5%. Broadcom and Nvidia climbed more than 1% apiece. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNB...
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