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 popular "pear fairy" cartoon mascot Funassyi held its first press conference with the foreign media in Tokyo on Thursday, saying its unlikely path to success is a symbol of the country's admiration of perseverance in the face of adversity. (Japan Times)
A total of 706 incidents linked to "dangerous," or quasi-legal, drugs were detected by police in Japan in 2014, up 5.6-fold from the preceding year, the National Police Agency said Thursday. (Jiji Press)
A report released Wednesday by the International Narcotics Control Board revealed that Mexican drug cartels have extended their reach to Japan, where methamphetamine seizures have doubled compared to the previous year. (UPI)
Japan's idol world is quite…expansive, for lack of a better word. Even with the wide variety of groups running around, it can be hard to really tell them apart-though we have to say there was no mistaking Osaka's Obachaaan for any other group. (rocketnews24.com)
Microsoft Corp. cofounder Paul Allen said on Twitter Tuesday the Imperial Japanese Navy's World War II battleship Musashi has been found at the bottom of the Sibuyan Sea off the central Philippines. (Jiji Press)
The world's oldest person says 117 years doesn't seem like such a long time. Misao Okawa, the daughter of a kimono maker, made the comment Wednesday, at a celebration a day before her 117th birthday. Appropriately, she was wearing a pink kimono decorated with cherry blossom prints. (nydailynews.com)
The Tokyo High Court rejected Wednesday an appeal filed by a former senior member of the AUM Shinrikyo cult against a nine-year prison term handed down by a lower court for his involvement in three crimes. (Kyodo)