TOKYO, Oct. 15 (Xinhua) -- Tokyo stocks rebounded on Wednesday as the sharp drop in the previous day prompted bargain-hunting and short-covering, leading to a strong technical rebound.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed 825.35 points, or 1.76 percent, higher at 47,672.67.
Although early trading was weighed down by weakness in U.S. tech stocks overnight, semiconductor-related shares strengthened in the afternoon, helping lift the overall market. At one point, the Nikkei's gain exceeded 900 points.
Market participants said that foreign short-term investors, who had sold futures in anticipation of political instability, were actively buying back positions, further boosting sentiment.
In the afternoon, semiconductor heavyweights gained momentum following strong earnings news from ASML Holding, the Dutch chipmaking equipment giant, which reported July-September orders above market expectations.
The TOPIX index also rose, finishing 49.65 points, or 1.58 percent higher at 3,183.64.
On the Tokyo Stock Exchange Prime Market, advancers outnumbered decliners 1,409 to 179, with 27 stocks unchanged.
