The Tokyo Stock Exchange staged a strong rebound Wednesday amid ringing reports of a massive rally on Wall Street overnight.
With share prices rising along a broad front, the 225-issue Nikkei average soared 544.35 points, or 3.3 percent, to end at 16,857.04. The rally snapped a two-session decline that forced the Nikkei average to give up 1,051.05 points, or more than 6 percent. The broad-based Tokyo Stock Price Index, which is known as the Topix and covers all issues on the first section of the TSE, rebounded 43.68 points, or 3.46 percent, to hit 1,306.79.
Also buoyed by the news of the Hong Kong market's strong rebound, investors returned to the market in search of potential gains. Almost all major investment sectors, including pension and public fund managers, foreign investors and domestic institutional investors, jumped on the buying bandwagon, brokerage officials said.