Nikkei Rebounds as Bank Failure Worries Recede

Jiji Press

17:53 JST, March 17, 2023

TOKYO (Jiji Press) — Tokyo stocks turned sharply higher Friday following Wall Street’s ascent reflecting receding worries over the spread of bank failures.

The Nikkei average of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section jumped 323.18 points, or 1.20%, to finish at 27,333.79 after losing 218.87 points Thursday.

The broader TOPIX index ended 22.32 points, or 1.15%, higher at 1,959.42 following a 23.02-point drop the previous day.

Buying took the upper hand from the outset, after all three major U.S. stock market indexes rose Thursday.