Asian stocks rebounded more than 1 percent on Thursday following a global sell-off, as a recovery on Wall Street and a falling yen encouraged investors to look for bargains and pick up shares in exporters.
The Japanese currency extended losses against the dollar and euro as the rebound in stock prices soothed fears of a broader crisis stemming from the U.S. mortgage sector.
Asian share indexes had dived on Wednesday -- most by between 2 percent and 3 percent -- after concern of rising defaults in U.S. mortgage lending prompted the second big wave of selling in global equity markets in recent weeks.
Read more at Reuters.com
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