Japan’s Nikkei Reverses Its Trend And Closes Higher

Japan’s Nikkei index reversed course to close higher on Friday, led by travel and leisure stocks, as investors cashed in on battered stocks amid concerns about the impact of the mutated Omicron strain of the coronavirus.

The Nikkei rose 1%, the largest percentage increase in three weeks, to close at 28,029.57 points.

The index recorded a weekly decrease of 2.5%.

The broader Topix index jumped 1.63% to 1957.86 points but fell 1.3% weekly.

Shares that were hit by concerns about the re-emergence of new strains of the coronavirus rebounded, as shares of airlines and railway companies rose 5.28% and 3.28%, respectively.