Asian stocks posted their biggest rise in two weeks on Tuesday and the euro steadied as investors judged the selloff after Italy’s referendum was overdone, with robust U.S. economic data also helping sentiment.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS bounced 0.8 percent, its biggest daily rise since Nov. 22, breaking two days of falls. Korea .KS11 climbed 1.2 percent while Japan .N225 rose 0.8 percent.
“Global risk sentiment roared back after falling prey to the initial Renzi fallout and whatever negatives Italy creates for the eurozone, yesterday was not the time for a euro implosion,” said Stephen Innes, senior trader at online FX platform, OANDA.
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