Commonwealth Bank shares surged by 13.3 percent in Australia..Australian shares unexpectedly surged today, attempting to rebound from Monday's panic sell-off, which was its worst day since th 1987 Black Monday crash. The ASX 200 recouped some of its recent losses, ending the session 5.8 percent higher at 5,293 points — its biggest one-day percentage gain since 1997, ABC News reports. The major miners and bank stocks helped lift the market, with BHP shares rising by nearly 12 percent and Commonwealth Bank shares gaining by 13.3 percent. However, the ASX 200 has still lost 26 percent since its peak on February 20. Shortly after midday, the indices had been up more than 4 percent as US stock futures predicted a strong rebound on Wall Street tomorrow.

Source: The Standard March 17, 2020 07:01 UTC