Tokyo, May 20 (AFP/APP): Tokyo stocks ended higher on Friday, reversing overnight falls on Wall Street as bargain-hunting purchases offset risk-off sentiment among investors.
The benchmark Nikkei 225 index surged 1.27 percent, or 336.19 points, at 26,739.03, while the broader Topix index added 0.93 percent, or 17.29 points, to 1,877.37.
The dollar stood at 127.94 yen against 127.80 yen in New York on Thursday.
The surge came as a natural rebound after Japan’s blue chip shares dropped on Thursday, analysts said.
“A broad range of shares attracted buyers from early trade on a rebound from the deep loss of the previous session,” Okasan Online Securities said in a note.
China’s decision on Friday to cut a key interest rate to boost its economy also brightened the global market’s sentiment, lifting Asian and Japanese shares.
“On the back of rising US futures market as well as Asian shares, the Nikkei gradually and steadily rose through the closing bell,” Okasan said.
A broad range of shares advanced in Tokyo.
Major shipping firm Nippon Yusen surged 3.74 percent to 9,990 yen. Sony Group added 1.19 percent to 11,525 yen. Uniqlo-operator Fast Retailing added 2.53 percent to 59,630 yen.
SoftBank Group added 3.50 percent to 5,232 yen. Nintendo rose 0.22 percent to 59,290 yen.
Toyota rose 2.14 percent to 2,048.0 yen. Advantest, which produces testing kits for semiconductors, added 1.16 percent to 8,710 yen.
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