Nikkei snaps three-day losing streak on improved risk appetite

  • Reuters
  • Stock Market News
Nikkei snaps three-day losing streak on improved risk appetite
Credit: © Reuters.

By Joshua Hunt
TOKYO, March 10 (Reuters) - 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 .N225 rose 1.3 percent to
16,852.35.
Medical electronics company Hoya Corp 7741.T gained 1.9
percent after Deutsche Bank (DE: DBKGn ) 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 .IEPNG.T shed 3.1
percent after a Japanese court ordered operations at two of
Japan's four on line nuclear reactors to halt, dimming prospects
for further restart.
The operator of these two reactors, Kansai Electric Power Co
Inc 9503.T , plunged 14.7 percent and weighed heavily on the
index.
The broader Topix .TOPX climbed 1.5 percent to end the day
at 1,352.17 with all but two of its 33 subindexes in positive
territory.
The JPX-Nikkei Index 400 .JPXNK400 rose 1.5 percent to
12,235.49.

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