Japanese stocks rebound; Toyota jumps

Japanese stocks bounced back sharply on Wednesday morning after crumbling to their biggest percentage fall in 15 months the previous day.

The Nikkei 225 share average jumped 3.2 per cent to 22,303.88 in midmorning trade, after stumbling 4.7 per cent on Tuesday amid a global equities rout.

Toyota Motor Corp gave the market something to cheer, rallying more than 5.0 per cent after the automaker said that it expects a record net profit this year, reports Reuters.

All of the Topix’s 33 subsectors were in positive territory, with mining companies, drugmakers and automakers outperforming.

Eisai Co rose 5.4 per cent, Astellas Pharma 4.5 per cent, Inpex Corp 4.0 per cent and Honda Motor 3.3 per cent.

The broader Topix gained 3.3 per cent to 1,800.12.