Stephen Innes South Korea Japan Hong Kong Australia city Tokyo city Shanghai economy Government Coronavirus Stephen Innes South Korea Japan Hong Kong Australia city Tokyo city Shanghai

Asian stocks follow Wall St higher after Fed ups bond buys

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TOKYO – Asian shares rose Tuesday, cheered by fresh moves by the U.S. Federal Reserve to support markets battered by the coronavirus pandemic.

Japan's benchmark Nikkei 225 gained 3.2% to 22,212.62. South Korea's Kospi gained 4.5% to 2,123.35, while Australia's S&P/ASX 200 jumped 3.7% to 5,932.40.

Hong Kong's Hang Seng added 2.6% to 24,403.92. The Shanghai Composite edged up 0.9% to 2,916.07. “In case the generosity of the Fed was in any doubt, it is not.

Global equity markets are recovering quickly,” after the Fed announcement, Stephen Innes, chief global markets strategist at AxiCorp, said in a report.

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