Nikkei ends a 5-day losing streak as US bond yields decline

The Nikkei index snapped a five-day losing streak, recording on Thursday the largest single-day percentage jump in three months, with US Treasury yields declining from their highest levels in 16 years and investors buying stocks that fell.

The Nikkei index rose 1.80 percent at the close, recording 31,075.36 points. On Wednesday, it fell to its lowest level since May 18 and is still on track for a weekly loss of 2.5 percent.

The broader Topix index rose 1.99 percent to 2,263.09 points, recording its best percentage jump in one day since November 11.

Capital flow data showed that foreign investors bought Japanese stocks worth 71 billion yen ($478 million) on a net basis in the week ending September 30 after selling a net worth of 3 trillion yen in shares the previous week.

Longer-term US Treasury bond yields fell from their highest levels in 16 years last night after data showed that job growth in the United States was less than economists expected in September.

Investors will now focus on US non-farm payrolls data scheduled for release on Friday.

Shares of Advanced Chip Testing Equipment Manufacturer jumped 4.7 percent, giving the Nikkei index the biggest boost, while Tokyo Electron shares gained 1.6 percent.

Monex Group shares increased 17.89 percent to its maximum daily limit after the Japanese mobile phone company (NTT Docomo) said that it had entered into a capital partnership with the financial technology company to establish a new financial services company.

Shares of Japan Stock Exchange Group, which operates the Tokyo Stock Exchange, rose by 6.3 percent to record the largest increase on the Nikkei index, followed by shares of Ozora Bank, which rose 5.4 percent.