Asia stocks jump as Fed ramps up stimulus measures

Asia Stocks jumped on Tuesday as authorities increased stimulus measures to combat the economic impact of the global coronavirus outbreak.

Japan’s Nikkei 225 was among the region’s major markets that the saw the largest increase. It surged 7.13% by the close to 18,092.35 as shares of index heavyweights Fast Retailing and Softbank Group soared 13.79% and 18.95%, respectively, while the Topix rose 3.18% to end its trading day at 1,333.10.

In South Korea, the Kospi rose 8.6% to close at 1,609.97.

Hong Kong’s Hang Seng index also jumped 4.25%, as of its final hour of trading, with shares of Chinese tech juggernaut Tencent gaining 4.71%.

Mainland Chinese stocks also saw gains on the day, with the Shanghai composite up 2.34% to about 2,722.44 while the Shenzhen composite added 2.105% to around 1,666.22.