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 research whaling vessels have returned to a port in Yamaguchi Prefecture, western Japan, after completing a survey expedition in the Antarctic Ocean. The expedition was unusual in that it did not involve catching any whales. (NHK)
In the first application in Tokyo of a law that seeks to restrict the distribution of sexually explicit content for revenge purposes, police on Friday announced the arrest of a 50-year-old male for releasing illicit images of his former girlfriend, reports the Sankei Shimbun (March 27). (Tokyo Reporter)
A teen model smiles sweetly at the camera. Deftly using her hands, she produces a considerable volume of white, goopy liquid. Then she turns to the camera and asks, innocently, "It all came out?" (rocketnews24.com)