Tokyo stocks end higher as US jobs data ease recession fears

Tokyo, Aug 9 (IANS) Tokyo stocks ended higher on Friday after a week of volatile trading, as lower-than-expected US jobless claims eased fears about a recession and spurred buying.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 193.85 points, or 0.56 per cent, from Thursday at 35,025.00, Xinhua news agency reported.

The broader Topix index, meanwhile, finished 21.60 points, or 0.88 per cent, higher at 2,483.30.

Stocks opened higher, tracking sharp gains on Wall Street overnight after US jobless claims data provided relief to investors and quelled fears of a recession in the world’s biggest economy. But gains were capped ahead of the long weekend and Bon holidays in Japan, analysts said.

This week has seen volatile trading with the benchmark Nikkei plunging over 4,400 points on Monday, its biggest single-day point drop in history, followed by a rebound with the largest-ever point gain the next day.

–IANS

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