Business Standard

Nikkei posts worst week in 2 months, despite Apple-inspired rebound

Nikkei declined 2.93%, its fourth straight weekly drop, as Japanese stocks joined a global sell-off.

Photo: Reuters

Photo: Reuters

Japan's Nikkei rebounded on Friday from a 14-week closing low, buoyed by strong earnings from Apple Inc, but still registered its biggest weekly drop in two months.

The Nikkei held gains from the morning, fluctuating very little following the midday break, to end the day 2.09% higher at 26,717.34. It was its first session of gain in four, with nearly 10 stocks rising for every one that fell.

"There's a feeling that the sell-off has gone too far, so it's natural for there to be some buying back of shares," said Koji Toda, a fund manager at Resona Asset Management.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 28 2022 | 1:19 PM IST

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