Tokyo's Nikkei Index Rebounds In See-saw Trading

TOKYO,(UrduPoint / Pakistan Point News - 4th Augst,2016) - Tokyo's benchmark stock index rebounded from two days of losses on Thursday as bargain hunting and Yen weakness lifted the market. Japanese shares fluctuated in and out of positive territory over the session with investors focused on US jobs figures due Friday. "We're in a wait-and-see mode ahead of the US jobs report," Mitsushige Akino, a Tokyo-based executive officer at Ichiyoshi Asset Management, told Bloomberg news. "The fact that oil prices have risen and US shares have regained strength is a slight positive." In forex markets, the Dollar jumped to 101.57 yen from 101.25 yen Wednesday in New York, a plus for the profitability of Japan's exporters. By the close, the Nikkei 225 was up 1.07 percent, or 171.78 points, at 16,254.

89, while the broader Topix index of all first-section shares tacked on 0.87 percent, or 11.01 points, to end at 1,282.99. In share trading, energy explorer Inpex soared on a rebound in oil prices, jumping 2.92 percent to 789 yen. Toyota also rose, surging 1.82 percent to 5,691 yen, while factory robot maker Fanuc gained 1.13 percent to close at 16,905 yen, reversing a loss at the lunch break. ANA Holdings, the parent company of airline giant All Nippon Airways, advanced 3.18 percent to 278.5 yen after leaving its annual profit and sales outlook unchanged despite a slump in its net profit for the April-June quarter. Uniqlo operator Fast Retailing, a market heavyweight, was up 2.77 percent at 35,500 yen, while Honda added 2.07 percent to 2,924.5 yen.