P. M. BRIEFING : Nikkei Index Soars 1,029 Points

Stock prices on the Tokyo Stock Exchange closed broadly higher today as the key Nikkei Average shot up more than 1,000 points on bargain hunting, a stronger yen and news of an agreement in U.S.-Japanese trade talks.

The blue-chip Nikkei average of 225 selected shares, which lost 193.88 points Thursday and has dropped more than 25% since Jan. 1, catapulted 1,029.72 points, or 3.6%, to end the week at 29,278.78.

The broader-based Tokyo Stock Exchange Price Index surged 90.44 points to 2,149.26.

Analysts said bargain hunters took advantage of low prices and there was a renewed sense of confidence in the Japanese yen as a result of the agreement between Japanese and U.S. negotiators in Washington on steps to reduce the U.S. trade deficit with Japan.