Japanese stocks lead sharp Asia rebound as US data reassures

MSCI's broadest index of Asia-Pacific shares outside Japan surged 1.3%, while Japan's Nikkei stock average jumped about 3.4%, on track to post the biggest daily rise in more than a year and retaking some of the 5% it shed in the previous week - EPA Photo.

TOKYO: Japanese stocks led a rally in Asia on Monday, after solid US data and earnings calmed tumult in global financial markets and reassured investors worried about the health of the world economy.

The Thomson Reuters/University of Michigan index of consumer sentiment was surprisingly strong in early October, rising to a seven-year high. Other data also showed new housing starts rose more than expected last month, suggesting US economic growth was solid.