<p>Japan's benchmark Nikkei jumped 8% on Wednesday, its biggest daily gain since 2008, after Wall Street made an outsized rebound and US senators and Trump administration officials reached an agreement on a massive stimulus bill.</p>.<p>The Nikkei average closed at 19,546.63 points after its sharpest one-day advance since the peak of the global financial crisis in October 2008.</p>.<p>It has gained 18% in the last three sessions, driven by a confluence of positive factors.</p>.<p>On top of big US stimulus, buying by the Bank of Japan and likely also by the country's pension fund, triggered a wave of short-covering.</p>.<p>The news that the Tokyo Olympics will be postponed to next year rather than cancelled provided relief while SoftBank Group , heavyweight in the Nikkei, soared 55% in the last three sessions, on record share buy-back and asset sales plan.</p>.<p>Still, the benchmark is down about 19% from its January 17 peak, underscoring the unprecedented health crisis that has severely disrupted the world economy and the daily life of millions with many nations forced into lockdowns.</p>.<p>The Nikkei's volatility index, a measure of investors' volatility expectations based on option pricing and considered to be a fear gauge, rose to 48.28 from 45.49, although it was some way away from a nine-year peak of 60.86 hit last week.</p>.<p>On Wall Street, the Dow Jones Industrial Average soared 11.37% on Tuesday, its biggest one-day percentage gain since 1933.</p>.<p>The International Olympic Committee (IOC) and Japanese government agreed to put back the Games until 2021, a decision many investors have been looking for.</p>.<p>"Now that investors have one less uncertainty or risk factor to deal with, I would say the announcement has had a moderately positive impact on the stock market," said Masahiro Fukuda, an investment director at Fidelity International (FIL) Japan.</p>.<p>Dentsu Group Inc, Japan's main marketing agency for the Tokyo Games, surged 11.7% and sportswear maker Asics Corp jumped 17.5%.</p>.<p>The broader Topix gained 6.9%, the biggest gain in four years, to 1,424.62, with all of the 33 sector sub-indexes on the Tokyo Stock Exchange in positive territory.</p>.<p>Real estate was the top performing sector, up 11.3%, and the TSE REIT index climbed 11.6%, pulling away from a seven-year trough hit last Thursday.</p>
<p>Japan's benchmark Nikkei jumped 8% on Wednesday, its biggest daily gain since 2008, after Wall Street made an outsized rebound and US senators and Trump administration officials reached an agreement on a massive stimulus bill.</p>.<p>The Nikkei average closed at 19,546.63 points after its sharpest one-day advance since the peak of the global financial crisis in October 2008.</p>.<p>It has gained 18% in the last three sessions, driven by a confluence of positive factors.</p>.<p>On top of big US stimulus, buying by the Bank of Japan and likely also by the country's pension fund, triggered a wave of short-covering.</p>.<p>The news that the Tokyo Olympics will be postponed to next year rather than cancelled provided relief while SoftBank Group , heavyweight in the Nikkei, soared 55% in the last three sessions, on record share buy-back and asset sales plan.</p>.<p>Still, the benchmark is down about 19% from its January 17 peak, underscoring the unprecedented health crisis that has severely disrupted the world economy and the daily life of millions with many nations forced into lockdowns.</p>.<p>The Nikkei's volatility index, a measure of investors' volatility expectations based on option pricing and considered to be a fear gauge, rose to 48.28 from 45.49, although it was some way away from a nine-year peak of 60.86 hit last week.</p>.<p>On Wall Street, the Dow Jones Industrial Average soared 11.37% on Tuesday, its biggest one-day percentage gain since 1933.</p>.<p>The International Olympic Committee (IOC) and Japanese government agreed to put back the Games until 2021, a decision many investors have been looking for.</p>.<p>"Now that investors have one less uncertainty or risk factor to deal with, I would say the announcement has had a moderately positive impact on the stock market," said Masahiro Fukuda, an investment director at Fidelity International (FIL) Japan.</p>.<p>Dentsu Group Inc, Japan's main marketing agency for the Tokyo Games, surged 11.7% and sportswear maker Asics Corp jumped 17.5%.</p>.<p>The broader Topix gained 6.9%, the biggest gain in four years, to 1,424.62, with all of the 33 sector sub-indexes on the Tokyo Stock Exchange in positive territory.</p>.<p>Real estate was the top performing sector, up 11.3%, and the TSE REIT index climbed 11.6%, pulling away from a seven-year trough hit last Thursday.</p>