Topix Posts Historic Rally, and Is Still Down This Week: Chartby and
Japan’s Topix index just posted its second-steepest gain since Prime Minister Shinzo Abe took office, and investors have still lost money this week.
The share gauge soared 5.6 percent Friday, ranking behind only a 6.4 percent surge in September since Abe’s tenure began in late 2012. In a sign of just how bad the equities rout has been, the Topix also capped a 2 percent weekly slide.
“It’s been a volatile week for stocks,” said Mikey Hsia, a trader at Sunrise Brokers LLP in Hong Kong. Friday’s jump “just means it’s a little bit less terrible now, that’s all. I am shell shocked, but entertained -- these volatile markets are what we live for.”