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.
A toxic food scandal in China is spreading fast, dragging in U.S. coffee chain Starbucks, Burger King Worldwide Inc. and others, as well as products of McDonald's Corp. as far away as Japan. (Japan Times)
Personal information on some 22.6 million Benesse Corp. customers was stored in a smartphone used by a systems engineer arrested last week for allegedly stealing such data from the education service provider, the company has said. (Jiji Press)
A group of residents from a village near the crippled Fukushima Daiichi nuclear power plant is planning to file for state arbitration so all villagers can be entitled to equal damages regardless of radiation levels of their areas. (NHK)
Inventor and performance artist Showta Mori has been getting a taste of internet fame recently for his videos featuring his quick-draw, arm-mounted iPhone sleeve gun, but that's far from his only creation or even his weirdest creation. (rocketnews24.com)
A 49-year-old man arrested Saturday on suspicion of confining an 11-year-old girl at his house here has told police he wanted to be with the girl forever, according to a source related to the investigation. (The Japan News)
A series of water-related accidents across Japan during Marine Day on Monday has left six people dead, three missing and one in a critical condition, according to media and Fire and Disaster Management Agency reports. (Japan Today)
For the past three months, Tokyo Metropolitan Police have sought a woman believed to be responsible for the drugging and robbing of multiple men in the metropolis over the last two years. (Tokyo Reporter)
Police in Yashio, Saitama Prefecture, said Monday they are investigating the death of a 24-year-old man who came into a 7-Eleven convenience store, bleeding from stab wounds and died shortly after. (Japan Today)