Asian shares jump after Washington took over Fannie Mae and Freddie Mac to save the U.S. housing market.
The market reaction across Asia was swift, with Japan's benchmark Nikkei seeing its biggest percentage gain in five months as the yen fell against major currencies after the biggest U.S. government bailout ever was seen encouraging investor risk-taking.
Investors who had been keeping cash-heavy portfolios, switched to battered stocks, particularly financials, with Australian shares rising over 4 percent.
Kitty Bu reports.
