Japanese stocks recovered from an early plunge today as investors scooped up shares that have fallen in recent days.
The benchmark Nikkei 225 stock index rose 77.84 points, or 0.57 per cent, to close at 13,861.29 on the Tokyo Stock Exchange. The index broke a four-day losing streak Thursday, when it jumped 2.07 per cent.
The Nikkei fell as much as 3 per cent in early trade, sliding in the wake of an overnight plunge on Wall Street driven partly by unexpectedly weak US manufacturing numbers but recovered on bargain-hunting.
While investors remained worried that a possible US recession could hurt exporters' profits, they were heartened by hopes for emergency stimulus measures that President George W. Bush planned to outline later in the day.
The broader Topix index, which includes all shares on the first section, added 11.06 points, or 0.83 per cent, to 1,341.50.
In currencies, the US dollar was trading at 106.96 yen at 2:50 p.m. Friday, down from 107.00 yen late Thursday in New York. The euro fell to $1.4640 from $1.4673.