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Lingering worries about China will dominate Tokyo trading next week, analysts said, after global equity markets took a roller-coaster ride on fears a slowdown in the world's number two economy would weigh on global growth.
The Nikkei 225 at the Tokyo Stock Exchange ended a wild week down 1.54 percent at 19,136.32, with a three-day rally from Wednesday pulling the benchmark index off six-month lows. The broader Topix index of all first-section shares lost 1.48 percent over the week to end Friday at 1,549.80.
The Nikkei racked up six straight losing sessions through Tuesday as markets around the world nose-dived on the uncertain outlook for China, a key driver of global growth now seen as a potential threat to the world economy.
After China's central bank chopped interest rates and cut the amount of money banks must hold in reserve, global investors returned to buying and drove up major indexes around the world.
Upbeat data from the US this week, including a sharp upward revision to second-quarter GDP to annual growth of 3.7 percent, from 2.3 percent, along with solid durable goods figures also helped fuel optimism.
But concerns over China will likely hang over equity markets as investors mull whether the moves by Beijing will be enough to kick-start growth in Asia's top economy, Daiwa Securities said in a research note.
Markets would keep a close eye on the Chinese manufacturing purchasing managers' index due next week. "Caution is warranted given the possibility that slowdown worries over China will be rekindled" if the data disappoint, Daiwa said.
Investors are also awaiting news from an annual US Federal Reserve symposium in Jackson Hole, Wyoming, this weekend, followed by a meeting of finance chiefs and central bankers from G7 nations scheduled for next weekend. The Fed's regional economies Beige Book report and US trade data are among a string of figures due next week.
Dealers will keep a close eye on those reports for the latest clue about the health of the world's top economy, and the possible timing for a Fed rate hike.

Copyright Agence France-Presse, 2015

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