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Tokyo: Shares jump 2.64% by the close
[TOKYO] Tokyo stocks jumped 2.64 per cent on Wednesday, reversing a sharp drop the previous day, as investors took their lead from another Wall Street rally.
The Nikkei 225 index at the Tokyo Stock Exchange added 391.49 points to finish at 15,195.77 and the broader Topix index of all first-section shares rose 2.58 per cent, or 31.05 points, to 1,236.41.
The Nikkei suffered heavy selling last week and the start of this week saw it enjoy a four per cent surge Monday and a two percent slide Tuesday.
But CLSA equity strategist Nicholas Smith told Dow Jones Newswires: "Now that the 'panic attacks' of the last several days are beginning to subside, we should see something of a recovery for the Tokyo market."