Markets across Asia rebounded Friday after plunging the last two weeks, helped by gains on Wall Street and investors hunting for bargains. India's market recovered 1.3 percent after plunging 16 percent since May 10.
Japan's benchmark Nikkei 225 index rose 277.01 points, or 1.77 percent, to finish at 15,970.76 points. Before Friday's gain, the index had tumbled 9.2 percent since May 8.
The Tokyo market gained steam in the afternoon, after traders saw recoveries in other Asian markets, particularly India. Those gains "cleared one concern for now," said Ryuta Otsuka, strategist at Toyo Securities.
The turmoil in India's market, which had fallen 16 percent before Friday's gain, has been a major focus in Tokyo because Japanese investors hold about 1 trillion yen ($8.9 billion) worth of Indian mutual funds, Otsuka said.
Also boosting sentiment was an Thursday's gain in U.S. stocks, where the Dow Jones industrial average gained 0.84 percent to 11,211.05, and the Nasdaq composite index jumped 1.34 percent.
In Hong Kong, the bounce back was led by property and export companies. The blue-chip Hang Seng Index rose 198.21 points, or 1.3 percent, to 15,895.10.
The benchmark index fell about 2.7 percent this week. Before Friday's recovery, it had lost 8.8 percent since May 8.
BANGKOK: Thai shares rose 2.4 percent on bargain-hunting across the board amid rebounds in regional markets after closing at a five-month low on Thursday.
KUALA LUMPUR: Malaysian shares ended higher, with the weighted Composite Index of 100 blue chip stocks finishing up 0.7 percent at 930.75.
SEOUL: Banks, telecom companies and non-life insurers gained in Seoul, with the Korea Composite Stock Price Index rising 2.1 percent after closing at a six-month low Thursday.
