TOKYO: Tokyo stocks jumped 1.27 percent on Thursday morning after two days of losses and despite a negative lead from Wall Street.
The Nikkei 225 index at the Tokyo Stock Exchange added 241.14 points to 19,275.98 by the break, while the broader Topix index of all first-section shares gained 1.37 percent, or 20.99 points, to 1,549.98.
“There’s likely to be buying on dips,” Mitsushige Akino, Tokyo-based executive officer of Ichiyoshi Asset Management, told Bloomberg News.
“But investors are still groping for the bottom, so it’s unlikely they’ll keep buying when the market gains. It’s going to continue to be volatile.”
Equities fell Wednesday after a disappointing business confidence survey by the Bank of Japan showed firms are increasingly pessimistic about a rebound in the world’s number three economy.
