Nikkei records its best daily performance since the end of March

The Japanese Nikkei index recorded the highest increase in more than a month and a half as investors flocked to cheap stocks, with SoftBank Group leading the gains.

The Nikkei jumped 2.64 percent to close at 2,6427.65, the highest daily increase since March 23, recovering from a decline to a two-month low recorded in the previous session. The index lost 2.1 percent this week.

The broader Topix index rose 1.91 percent to 1,864.20 points. And recorded a decline of 2.7 percent during the week.

SoftBank Group’s share was the most supportive of the Nikkei index, as it jumped 12.22 percent, despite the group’s Vision Investment Fund unit recording a record loss.

Tokyo Electron rose 5.54 percent after the chipmaker announced strong forecasts for the current fiscal year.

Nissan Motor shares fell 2.93 percent after the automaker warned of weak operating profit for the current fiscal year, far below analyst expectations.