Japan’s Nikkei stock average briefly rises more than 1,100 points

Tokyo (Jiji Press)—Japan’s Nikkei 225 stock average briefly rose more than 1,100 points on Wednesday morning, after a plunge earlier in the day.

The Nikkei index stood at 35,849.77 at 10:53 a.m., up 1,174.31 points, or 3.39 percent, from Tuesday, after losing 936.00 points, or 2.70 percent, in the early morning.

Stock buying increased as the dollar rose after a speech by Shinichi Uchida, deputy governor of the Bank of Japan, at a conference in Hakodate, Hokkaido.

Uchida said in his speech that the BOJ will not raise the policy rate if financial and capital markets are unstable.

On the Tokyo currency market, the dollar temporarily rose above ¥147, after being at ¥144.71-73 at 9 a.m. It was ¥145.29-30 at 5 p.m. Tuesday.