Japan's Nikkei 225 index surges 7.7 percent amid broad gains for Asian stock markets

Japan's Nikkei 225 stock index has surged 7.7 percent amid strong advances by other Asian markets.

The Nikkei 225 index closed Wednesday up 1,343.43 points, or 7.7 percent, at 18,770.51.

That was the biggest one-day jump since October 2008.

Investor sentiment has been buoyed by a rebound on Wall Street, hopes for stability in volatile Chinese stocks and expectations for corporate tax cuts in Japan.