December 7, 2017 / 6:29 AM / a year ago

Nikkei rebounds on bargain-hunting, mining sector remains weak

TOKYO, Dec 7 (Reuters) - Japan’s Nikkei share average ended higher on Thursday, taking back some ground lost in the previous session as investors snapped up bargains after the benchmark index skidded its most in 8-1/2 months The Nikkei finished up 1.45 percent, or 320.99 points, at 22,498.03, following its biggest fall since March the previous day, when it broke key technical support at its 25-day moving average.

Index heavyweight Fast Retailing added 2.37 percent.

Pharmaceutical shares added 1.04 percent, while securities shares were up 0.61 percent.

Oil shares added 1 percent after crude oil futures steadied following an overnight sell-off.

But mining shares slumped 0.9 percent, continuing their weakness as the price of copper wallowed at low levels after dropping more than 4 percent on Tuesday, its biggest daily fall in almost 2-1/2 years.

Shares of Advantest Corp rose 1.76 percent, after Nikkei reported that the chip company’s fiscal year operating profit is seen reaching 20 billion yen ($177.87 million).

The broader Topix rose 1.18 percent, or 20.83 points, to 1,786.25, while the JPX-Nikkei Index 400 rose 1.17 percent, or 183.51 points, to 15,825.72.

Reporting by Tokyo markets team; Editing by Jacqueline Wong and Eric Meijer

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below