While Tokyo stocks continue to fluctuate wildly, some market participants are saying that stocks have bottomed out and have started an upward surge, following the Bank of Japan's effective return to a "zero-interest-rate" policy and commercial banks' accelerated disposal of bad loans.
Although the start of March saw the Tokyo market start to fall sharply, fiscal yearend factors have helped it firm since the middle of the month.
It is premature to say, however, that the market has bottomed out because the renewed zero-rate policy should have practically no effect on economic fundamentals.