Asian stock markets followed Wall Street higher Thursday after Britain's central bank moved forcefully to stop a budding financial crisis.
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Market benchmarks in Hong Kong, Seoul and Sydney added more than 1%. Shanghai and Tokyo also rose. Oil prices edged lower after jumping by more than $3 per barrel the previous day.
Wall Street's benchmark S&P 500 index surged 2% on Wednesday for its biggest gain in seven weeks after the Bank of England announced it would buy as many government bonds as needed to restore order to financial markets.
That helped to calm investor fears that planned British tax cuts would push up already high inflation. That had caused the value of the British pound to fall to its lowest level since the 1970s and bond prices to plunge.
New Zealand and Southeast Asian markets also advanced.
