Nikkei 225 Rebounds 1.59% to 26,383, Snapping Five-Session Losing Streak on Wall Street Cues

Japan's Nikkei 225 Index jumped 412.23 points, or 1.59%, to 26,383.05 on Friday, ending a five-session slide as investors bought back battered stocks following a sharp overnight rebound on Wall Street. The index touched an intraday high of 26,419.89. Technology shares led the advance. Advantest surged more than 6%, Screen Holdings gained over 5% and Tokyo Electron added more than 4%. SoftBank Group rose over 5%, while exporters Sony and Panasonic climbed almost 3% and 2%, respectively. Shipping names also rallied, with Kawasaki Kisen Kaisha up nearly 6%. Financials bucked the trend. Fukuoka Financial Group fell almost 8%, Concordia Financial and Chiba Bank slid nearly 7% each, and Mitsubishi UFJ and Sumitomo Mitsui declined almost 2% apiece. The rally tracked Wall Street, where the Nasdaq spiked 3.3% to 13,473.59 after tumbling as much as 3.4% early Thursday. The dollar traded in the lower 115 yen range.