Tokyo stocks bounce back after yellen’s remarks

Tokyo stocks bounced back Thursday from the previous day’s sell-off as US Federal Reserve chief Janet Yellen’s generally dovish remarks and better-than-expected Chinese trade data improved market sentiment, according to Nikkei Asian Review. The 225-issue Nikkei Stock Average ended up 130.33 points, or 0.93%, from Wednesday at 14,163.78. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 8.00 points, or 0.69%, higher at 1,160.01, (Kyodo) news agency reported. Brokers said the Tokyo market drew support from the overnight rebound in the 30-issue Dow Jones Industrial Average after the Fed chief’s congressional testimony reaffirmed her commitment to an accommodative monetary policy, citing tepid labor market improvement.