Tokyo stocks ended higher in volatile trading Friday as the fallout from Wall Street's overnight selloff was countered by a recovering dollar and bargain-hunting, resulting in a major intraday market reversal.
Volume was the highest in a week, prompting some participants to speculate that the market is showing signs of having bottomed following six major selloffs since May 23.
The Nikkei Stock Average closed up 215.55 points or 1.7% at 13,230.13, showing its widest intraday range--almost 628 points--since the 6.4% selloff on June 13.
For the week, the index added 4.3%, its first positive weekly gain in five weeks. Year-to-date, the Nikkei is up 27%.
The Topix index of all Tokyo Stock Exchange First Section issues also added 7.59 points, or 0.7%, to 1,099.40, with 22 of 33 subindexes ending in positive territory.
The strong finish was hardly foreseen by many at the open, as overnight U.S. shares' biggest-one day slide of the year triggered a sharp initial selloff.
But the Nikkei, which had posted a similar-sized loss the prior day, was bolstered by bargain-hunting and sharp recovery in the dollar.
The greenback briefly traded under Y97.00 intraday, but was seen changing hands at Y97.78 as of the TSE close at 0600 GMT.
An independent judicial panel of citizens said Thursday it has decided that three former executives of Tokyo Electric Power Co. merit indictment over the 2011 nuclear disaster at the Fukushima Daiichi power plant. (Kyodo)
Osaka police said Wednesday they failed to report roughly 81,000 criminal cases to the National Police Agency between 2008 and 2012, or nearly 10 percent of the total reported by the prefectural police force during the five-year period. (Kyodo)
Police in Japan say that a 16-year-old girl has admitted to slaying her classmate because she "wanted to kill someone" and "dissect" the body, according to Japanese news agency Kyodo News. (huffingtonpost.com)
On July 16, Kanagawa Prefectural Police arrested Koichi Yokoyama, a former Liberal Democratic Party member of the Kanagawa Prefectural Assembly, for allegedly possessing stimulant drugs at his apartment in Yokohama last month. (Tokyo Reporter)
Golden-gai, a warren of tiny bars near Shinjuku's Kabukicho entertainment district, has long been a refuge for writers, musicians, filmmakers and other artistic types, who congregate at drinking establishments with like-minded patrons. (Japan Times)
On July 7, Tokyo Metropolitan Police arrested 30-year-old Ikki Jin for allegedly slipping a sleeping powder into an alcoholic drink consumed by a 23-year-old male and robbing him of a total of 350,000 yen in cash and valuables in February. (Tokyo Reporter)
Coverage of Hyogo prefectural assemblyman Ryutaro Nonomura's July 1 televised tantrum is finally winding down in the mainstream media. But on the Internet, where a YouTube video of his press conference registered over 2 million views in just two days, it's still going strong. (Japan Today)