Nikkei bounces back but pares gains on U.S. tariff caution

  • Reuters
  • Stock Market News
Nikkei bounces back but pares gains on U.S. tariff caution
Credit: © Reuters.

TOKYO, March 8 (Reuters) - Japanese shares bounced back onThursday on hopes the impending U.S. tariffs on steel andaluminium will be milder than previously thought, but the marketpared gains as caution ruled ahead of the formal announcementfrom Washington.

The Nikkei average .N225 ended 0.54 percent higher at21,368, after rising as much as 1.11 percent earlier in the day.The broader Topix .TOPX gained 0.35 percent to 1,705, thoughturnover was the lowest in almost two weeks.

Investors picked up growth shares such as Nintendo 7974.T ,which rose 4.1 percent, and Murata Manufacturing 6981.T , whichgained 2.5 percent.

The Topix Growth Index .TOPXG rose 0.56 percent,outperforming value shares .TOPXV , which rose just 0.14percent. Trading house were among biggest losers, withMitsubishi Corp 8058.T falling 0.9 percent and Mitsui & Co 8031.T down 0.4 percent.

Japan's revised GDP data showed the economy grew anannualised 1.6 percent, more than the initial estimate of 0.5percent, in the last quarter of 2017, due to an upward revisionof capital expenditure and inventory.

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