Nikkei stages biggest rally of August on rosier earnings outlook

Benchmark index jumps on retail investor buying as Fed rate hike concerns abate

20230828N Nikkei

The Nikkei Stock Average jumped back past 32,000 on Aug. 28, recovering much of its loss from the previous session. (Photo by Mayumi Tsumita)

KOSUKE IGUCHI, Nikkei staff writer

TOKYO -- The Nikkei Stock Average on Monday logged its biggest point gain of August as individual investors flocked to Japanese equities bolstered by higher earnings expectations.

The index closed up 546 points at 32,170, recovering about 80% of the losses from Friday's session -- a setback touched off by tech stock woes spilling over from Wall Street.

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