Nikkei rises as yen steadies, still down sharply on the week

Japan’s Nikkei share average rose on Friday, rebounding from four-month lows, as the surging yen steadied.

The Nikkei ended up 1.1 percent at 15,599.66 points after tumbling 3.1 percent on Thursday following the Bank of Japan’s decision to refrain from introducing more stimulus, which caused the yen to spike.

The Nikkei was still down 6 percent on the week in which Brexit concerns buffeted global equity markets and sent investors into safe assets such as the yen and government bonds.

The broader Topix climbed 0.8 percent to 1,250.83 and the JPX-Nikkei Index 400 added 0.7 percent to 11,270.83.

Source: Reuters