Nikkei index stages rally

The Nikkei average closed 0.6 per cent higher today after hitting its lowest level in a week.

The Nikkei average closed 0.6 per cent higher today after hitting its lowest level in a week.

The Nikkei average gained 0.6 per cent or 98.55 points to end at 16,257.00, after earlier falling to 15,840.05, its lowest since August 29th.

The broader Topix index dipped 0.06 per cent or 0.95 point to 1,568.52, after sinking more than two per cent earlier in the day.

The market had fallen earlier on sharp losses in property stocks, which extended declines on worries about a slowing property market. Active trade in futures also made the cash market volatile.

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Trading volume was 2.1 billion shares, up from 1.8 billion on Wednesday. Decliners beat advancers by a ratio of more than two to one.