The Japanese stock market has made a strong rebound, with the benchmark index recording its biggest gain since October 2008

After plunging into a bear market on Monday, the Japanese stock market rebounded strongly on Tuesday. The Nikkei 225 Index and the TOPIX Index bounced back nearly 10%, marking their biggest gains since October 2008; after the yen fell about 1% against the dollar, export stocks such as technology companies and car manufacturers soared. The sharp fluctuations in the stock market triggered the circuit breaker mechanism of Nikkei index futures, while its implied volatility also fell from its highest level since 2008. Hideyuki Ishiguro, chief strategist at Nomura Asset Management said: "The panic selling may have ended, but today's market trend may still be a roller coaster ride because global market anxiety is still high."