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 fates of Japanese journalist Kenji Goto and Jordanian Air Force pilot Muath al-Kasaesbeh remain unknown after a deadline purportedly set by the Islamic State of Iraq and the Levant (ISIL) for the release of would-be suicide bomber Sajida al-Rishawi in exchange for Goto passed at sunset Thursday. (The Japan News)
The Aichi Prefectural Police said Friday that the 19-year-old Nagoya University student who has admitted killing a 77-year-old woman last month apparently used her cellphone to take pictures of the victim's corpse. (Japan Times)
Manga giant Katsuhiro Otomo won the Grand Prix Award at the prestigious Angouleme International Comics Festival on Jan. 29, marking the first time that a Japanese creator took the event's top honor. (Asahi)
Police in Saitama Prefecture said Thursday they have arrested 11 people who, as part of an organized scam group, call up individuals claiming that they had missed a payment for using a website that is actually free to use. (Japan Today)
A Nagoya University student who says she killed an elderly woman found dead in the 19-year-old's apartment has also admitted poisoning a former high school classmate, investigative sources said Thursday. (Japan Times)
Paul McCartney, who had to cancel all his concerts in Japan last year due to an illness, announced on his blog Thursday that he will return to Japan for four concerts in April as part of his "Out There" world tour. (Japan Today)