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.
The Japanese government lifted at midnight Friday its evacuation order for the Fukushima Prefecture town of Naraha, most of which is located within 20 kilometers of Tokyo Electric Power Co.'s disaster-stricken Fukushima No. 1 nuclear power plant. (Jiji Press)
McDonald's in Japan said on Friday it was investigating an incident involving a customer who was injured by plastic shards found inside a drink, the latest in a string of food contamination scandals. (Japan Today)
The wages rebounded in July after plunging the prior month but summer bonus payments rose only modestly, government data showed, suggesting that soft household spending may weigh on the world's third-largest economy for longer than expected. (The Japan News)
The Diet, Japan's parliament, on Thursday enacted revisions to the My Number law to link the new national identification numbers to bank accounts on a voluntary basis from 2018 and to basic pension numbers by May 2017. (Jiji Press)
On the afternoon of 3 September, a 59-year-old man walked into a shopping mall in Higashi Ward, Nagoya. He then grabbed two packs of roast pork from a supermarket and concealed them as he began to leave the premises without paying. A security guard had noticed the act of petty shoplifting, however, and a chase quickly ensued. (rocketnews24.com)
A total of 28 municipalities and businesses received the government's first toilet awards Friday for promoting clean, safe and comfortable public toilets, leading to uplift the lives of women through improving sanitation facilities. (Japan Today)
Police charged 689 people in January-June for the possession, smuggling and use of government-designated "dangerous" drugs, or quasi-narcotics, and related crimes and accidents, the National Police Agency said Thursday. (The Japan News)
Police investigating the murder of a 25-year-old woman in her apartment in Tokyo's Nakano Ward last week, said pieces of a man's skin were found under her fingernails. However, police said a DNA analysis was unable to match it with any of the victim's male acquaintances, Fuji TV reported Thursday. (Japan Today)
Osaka Prefectural Police on Wednesday announced the arrest of a 20-year-old university student for the theft of two sports cars, one of which was used at a racing circuit, reports the Asahi Shimbun (Sep. 3). (Tokyo Reporter)
After a week of speculation, law enforcement said on Tuesday that Japan's largest crime syndicate has chosen to expel 13 affiliate groups, a move that essentially results in the dissolution of the gang, reports the Kobe Shimbun (Sep. 1). (Tokyo Reporter)
Chiba Prefectural Police on Wednesday busted a hostess club in Chiba City for licensing violations, with the business being a source of revenue for organized crime, reports TBS News (Sep. 2). (Tokyo Reporter)