The Tokyo Stock Exchange’s benchmark Nikkei 225 index posted sharp fluctuations on Wednesday as the market looked set for another volatile trading day.
The index surged 1,100 points, or 3 percent, midmorning, reversing a loss of more than 900 points at the opening.
The rebound came as Bank of Japan Deputy Governor Uchida Shinichi spoke on Wednesday morning.
He said, “the Bank will not raise its policy interest rate when financial and capital markets are unstable.”
Investors say the overall volatility makes it difficult to predict price direction, especially after the Nikkei plunge on Monday unnerved markets around the world.