TOKYO, March 2 (Xinhua) -- Tokyo stocks rebounded Monday to close higher in volatile trading, bringing an end to a five-day losing streak, as investors snapped up issues oversold after the Bank of Japan pledged to ensure market stability and join other major central banks in combating excess volatility.
The 225-issue Nikkei Stock Average gained 201.12 points, or 0.95 percent, from Friday to close the day at 21,344.08, after the worldwide spread of the coronavirus has rocked markets.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 15.00 points, or 0.99 percent, to finish at 1,525.87.
Tokyo stocks tracked lower in early trade as investors digested the latest virus-related news over the weekend, which had seen the yen rise against the U.S. dollar and dent exporter issues while weighing on the broader market, brokers said.
They added however, that following the Bank of Japan pledging all-out efforts to ensure market stability, in light of the Nikkei having relinquished nearly 10 percent over the past five sessions, the market reacted positively, with investors thereafter setting about acquiring oversold stocks on dips.
The market set about buying back issues oversold during the recent rout, with sentiment underpinned by BOJ Governor Haruhiko Kuroda saying that the central bank will make all-out efforts to "provide ample liquidity and ensure stability in financial markets through market operations and asset purchases," investment analysts said.
"Kuroda's statement soothed investors who had been gripped by the coronavirus fears," said Makoto Sengoku, a market analyst at the Tokai Tokyo Research Institute.
Market analysts here added that along with improved sentiment helping the U.S. dollar recover against the safe-haven yen in later trade, coupled with a steady showing on Shanghai and Hong Hong bourses, dip-buying became more pervasive throughout the day, and saw the market's five-day losing streak come to an end.
Cyclicals, highly susceptible to external factors, that took a battering at the end of last week recovered ground, with Advantest Corp. jumping 5 percent, while Tokyo Electron climbed 4.5 percent.
Sony Corp., meanwhile, was another notable gainer, advancing 4.0 percent by the close.
Bucking the upward trend, Yaskawa Electric Corp. edged 0.4 percent lower on global growth concerns, while Rakuten Inc. fell 1.3 percent by the close, after Japan's Fair Trade Commission recommended the e-commerce giant discontinue the introduction of free shipping.
By the close of play, service, farm and fishery, and retail issues comprised those that gained the most by the close of play, and issues that rose outpaced those that fell by 1,892 to 240 on the First Section, while 29 ended the day unchanged.
On the main section on Monday, 2.035 billion shares changed hands, dropping from Friday's volume of 2.420 billion shares.
The turnover on the first trading day of the week came to 3,521.9 billion yen (32.66 billion U.S. dollars).
