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.
Japanese director Takashi Miike, whose violent and often controversial films boast a huge cult following, will be awarded the 2014 Maverick Director Award at the Rome film festival, organisers said Saturday. (AFP)
Two vending machines were torched and the money taken from them in Tokyo's Katsushika Ward on Saturday morning, bringing to 19 the number of vending machines which have been destroyed by fire in the area since Sept 15. (Japan Today)
Police in Tokyo said Friday they are looking for a man who sprayed a 17-year-old girl with a liquid resembling paint thinner as she walked home on Wednesday night-the third such incident to occur in the area since last month. (Japan Today)
A 61-year-old truck driver has been arrested after he hit a group of elementary school children in Setagaya Ward, Tokyo, killing one 9-year-old girl and injuring two other children, aged 8 and 9. (Japan Today)
Following the bust of a shopping site selling shoes containing a miniature camera used to take illicit photographs, Kyoto Prefectural Police are now seeking the return of the merchandise from customers, it was revealed on Tuesday, reports the Mainichi Shimbun (Sept. 17). (Tokyo Reporter)