Japan Nikkei surges on buybacks

Japanese share market finished session sharply higher on Friday, 14 October 2022, as investors chased for bottom fishing across the board on following gains on the Wall Street overnight.

Finance Minister Shunichi Suzuki reiterated the government's readiness to take "appropriate action" against excessive currency volatility as the yen touched a 32-year low versus the dollar.

At closing bell, the 225-issue Nikkei Stock Average index inclined by 853.34 points, or 3.25%, to 27,090.76. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 43.58 points, or 2.35%, to 1,898.19.

Sony climbed 4.3% after inking a JV with Honda to produce premium electric vehicles in 2025.

 

CURRENCY NEWS: The dollar strengthened to around 147.50 yen in Tokyo trading Friday after hitting 32-year highs around 147.65 yen in overseas markets the previous day. At 5 p.m., the dollar stood at 147.48-48 yen, up from 146.83-83 yen at the same time Thursday.

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