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Markets rebound in Asia

Thanks in part to a weaker yen, Tokyo is up with Hong Kong, Shanghai and Seoul following. But Singapore and Kuala Lumpur dip whilst Sydney and Manila limit losses.
Hong Kong (AsiaNews/Agencies) – Shares recovered in Asia, but not everywhere. Tokyo ended the day with a 4.61 per cent gain after the Nikkei index touched its lowest point in 26 years. A fall in the value of the Japanese yen against the US dollar was responsible for the shift.

Today the green back was exchanged at more than 95 yen after going as low as 92.76; the euro for its part topped 120 against the yen after reaching 115.72.

Hong Kong closed up by 6.13 per cent, following a 12.7 per cent drop on Monday. Shanghai was also up by 2.68 per cent. Seoul gained 5.57 per cent.

By contrast, Singapore, which was closed yesterday for a holiday, lost 5.96 per cent.

Also closed yesterday Kuala Lumpur ended the day down by 6.20 per cent, touching its lowest level since 2003.

Both Sydney and Manila lost but not by much, 0.38 and 0.55 per cent respectively.

Oil continued its downward trend, dipping to US$ 62.33 a barrel.