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.
Trade chiefs from 12 countries involved in an ambitious Pacific free trade initiative started a three-day meeting Saturday in Sydney in a bid to make progress toward a U.S.-proposed goal of reaching a deal by year-end. (Kyodo)
Japan will check the recent travel histories of all people arriving at international airports in the country to identify those who have visited Ebola-affected West African countries, the health ministry said Friday. (The Japan News)
The government said Friday it has chosen Nobel physics prize laureates Shuji Nakamura and Hiroshi Amano and five others as this year's winners of Japan's top cultural award, the Order of Culture. (Kyodo)