TOKYO: Tokyo stocks bounced back on Friday, helped by speculation about stepped-up purchases of exchange-traded funds by the Bank of Japan.

The Nikkei average of 225 selected issues listed on the first section of the Tokyo Stock Exchange gained 152.73 points, or 0.79 pct, to end at 19,498.50, On Thursday, the key market gauge edged down 7.47 points.

The TOPIX index of all TSE first-section issues rose 13.06 points, or 0.92 pct, to 1,430.04, after losing 8.49 points the previous day.

Tokyo stocks rallied in the afternoon, as their drops in the morning spurred hopes that the BOJ will boost its ETF purchases, brokers said.

But the market was top-heavy due to selling to lock in profits and fears of a sharp rise in coronavirus cases in Japan over the weekend. The absence of active buying from foreign investors amid the Easter holidays overseas also capped the Tokyo market's upside, they said.

JIJI Press