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Tokyo: Nikkei snaps three-day losing streak on improved risk appetite

Thursday, March 10, 2016 - 14:29

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[TOKYO] Japanese stocks rose for the first time in four days on Thursday after a bounce in oil prices overnight strengthened risk appetite, while exporters benefited from a weaker yen and expectations of further easing from the European Central Bank.

The Nikkei share average rose 1.3 per cent to 16,852.35.

Medical electronics company Hoya Corp gained 1.9 per cent after Deutsche Bank upgraded it to "buy" from "hold," citing healthy balance sheet and a "multitude of strategic options" for mid and long-term investors.

The Topix subindex for electric and gas shed 3.1 per cent after a Japanese court ordered operations at two of Japan's four on line nuclear reactors to halt, dimming prospects for further restart.

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The operator of these two reactors, Kansai Electric Power Co Inc, plunged 14.7 per cent and weighed heavily on the index.

The broader Topix climbed 1.5 per cent to end the day at 1,352.17 with all but two of its 33 subindexes in positive territory.

The JPX-Nikkei Index 400 rose 1.5 per cent to 12,235.49.

REUTERS

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