BEIJING – Asian stock markets advanced Thursday after Wall Street rebounded from a three-day slump for tech stocks.Benchmarks in Shanghai, Tokyo and Seoul.
Sydney was little-changed.Wall Street's S&P 500 index ended Wednesday up 2% for its best day in three months.Investors were snapping up lower-priced shares and were encouraged by hopes of possible additional stimulus from the European Central Bank, analysts said.
But they warned the recovery was fragile.“To the extent that ‘buy the dip’ mentality persists, this market may possess a somewhat more stubborn bullish streak,” said Mizuho Bank.
However, “markets will be prone to more volatility given the opportunistic elements of the rebound and potential pain that ‘group think’ begs,” it.