February 13, 2018 / 1:45 AM / a year ago

Nikkei rebounds after sharp weekly drop as U.S. shares recover

TOKYO, Feb 13 (Reuters) - Japan’s Nikkei share average rebounded on Tuesday morning after suffering a sharp drop last week, as investors played catch-up after U.S. shares rose on Monday, when markets were closed for a national holiday in Japan.

The Nikkei rose 0.7 percent to 21,537.46 points by midmorning, after posting a 7.1 percent weekly drop in the last week hit by a sell-off in Wall Street.

The broader Topix gained 0.6 percent to 1,742.20.

Securities, real estate and textile sectors outperformed, with Nomura Holdings rising 2.4 percent, Mitsui Fudosan soaring 2.6 percent and Toray Industries surging 6.6 percent.

Air transport and land transport sectors, on the other hand, underperformed. ANA Holdings dropped 0.9 percent and East Japan Railway Co shed 0.4 percent.

Editing by Kim Coghill

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