Tokyo: Nikkei closes up 2%

[TOKYO] Tokyo's benchmark Nikkei index gained two per cent on Friday, recouping some of the previous day's sharp losses triggered by the yen's appreciation.

The Nikkei 225 index jumped 2.0 per cent, or 420.75 points, to end at 21,466.99. Over the week, it lost 1.0 per cent.

The broader Topix index rose 1.94 per cent, or 29.69 points, to 1,563.96. Over the week, it was down 0.78 per cent.

"Tokyo stocks steadily grew on the back of the gains on US shares and also as the appreciation of the yen took a breather," Okasan Online chief strategist Yoshihiro Ito said in a note.

With lingering disquiet about the US-China trade war, Wall Street rose barely out of the red on Thursday on hopes for lower interest rates in the United States.

A top Fed policymaker, New York Federal Reserve President John Williams, reiterated the signal that the US central bank was likely to cut interest rates later this month, shoring up stocks and weakening the dollar.

In individual stocks trade, Sony rose 1.70 per cent to 5,838 yen and Toyota climbed 2.09 per cent to 7,121 yen.

AFP