Short covering prevailed in the afternoon session, with the Nikkei 225 recovering after morning selling. A modest rebound in U.S. equities also provided support, while movements in the major indices remained limited.
Short covering progressed into the afternoon session following intraday market movements, and the Nikkei 225 ended trading up 405.73 points at 66,262.16. Trading unfolded while monitoring movements in the 3 p.m. hour, while the Dow posted a modest rebound, ending at 3,889.44, up 7.43 points.
A modest rise in U.S. equities provided support for the Japanese market, while the Shanghai Composite also moved higher, gaining 160.24 points to 53,577.40. The dollar-yen exchange rate remained in the upper ¥159 range, and overall market direction remained limited.