Nikkei extends rally, ends up 3 pct but still down in turbulent week
TOKYO Aug 28 (Reuters) - Japanese stocks extended a rally on Friday as investors took heart from strong U.S. economic data and further gains on Wall Street, with strength in Chinese markets further helping to calm frayed nerves.
The Nikkei share average rose 3 percent to 19,136.32. The benchmark index climbed above its 200-day moving average for the first time in five days but failed to erase all the losses incurred on Monday and Tuesday, ending the week down 1.5 percent.
The broader Topix gained 3.3 percent to close at 1,549.80, ending the week down by 1.5 percent.
Soaring oil and commodities prices drove up shares in energy, heavy machinery, steel and other metals. Mitsubishi Corp. gained 6.2 percent and Nippon Steel and Sumitomo Metal climbed 7.6 percent while Toho Zinc gained 7.1 percent.
Shares in Japan's major exporters benefitted from a weakening yen, with Toyota Motor Corp. climbing 4.6 percent, Bridgestone gaining 4.0 and Panasonic rising 4.2 percent. (Reporting by Joshua Hunt, additional Reporting by Ayai Tomisawa; Editing by Shri Navaratnam)
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