Asian stocks surge, Japan's Nikkei 225 jumps more than 2%

Lola Evans
13 May 2022, 17:29 GMT+10

Stock markets in Asia rebounded Friday with major gains recorded in Japan, Australia, Hong Kong, China, and South Korea.
In Tokyo, the Nikkei 225 advanced 678.93 points or 2.64 percent to 26,427.65.
The Australian All Ordinaries rallied 141.10 points or 1.97 percent, to close Friday at 7,307.70.

SYDNEY, NSW, Australia - Stock markets in Asia rebounded Friday with major gains recorded in Japan, Australia, Hong Kong, mainland China, and South Korea.

In Tokyo, the Nikkei 225 advanced 678.93 points or 2.64 percent to 26,427.65.

The Australian All Ordinaries rallied 141.10 points or 1.97 percent, to close Friday at 7,307.70.

South Korea's Kospi Composite surged 54.16 points or 2.12 percent to 2,604.24.

In China, the Shanghai Composite gained 29.29 points or 0.96 percent to 3,084.28.

The Hang Seng in Hong Kong jumped 518.43 points or 2.68 percent to 19,898.77.

In New Zealand, the S&P/NZX 50 went against the trend, dipping 9.18 points or 0.08 percent to 11,168.18.

The U.S. dollar remained well bid during the Asian trading zone. The euro steadied at1.0397 around the Sydney close Friday. The British pound was weak at 1.2214. The Japanese yen was little changed at 128.72. The Swiss franc eased a tad to 1.0025.

The Canadian dollar was range-bound at 1.3017. The Australian dollar was friendless at 0.6882. The New Zealand dollar remained weak at 0.6247.

Overnight on Wall Street, the Dow Jones industrials fell 103.81 points or 0.33 percent to 31,730.30.

The Standard and Poor's 500 dipped 5.10 points or 0.13 percent to 3,930.08.

The Nasdaq Composite gained 6.73 points or 0.06 percent to 11,370.96.