Nikkei logs best day in four months after Tuesday's slide

Tokyo's Nikkei stock average climbed 2.5 percent on Wednesday, its biggest one-day gain in four months, buoyed by a robust U.S. retail sales report that soothed concerns the pace of growth in the world's largest economy was slowing.

The jump came after the Nikkei suffered its worst one-day decline in five months the prior day, with a 3.1 percent drop after a surprisingly weak U.S. nonfarm payroll report last Friday. Monday was a public holiday in Japan.

The Nikkei ended 386.33 points higher at 15,808.73, breaking above its 25-day moving average of 15,702.72 and setting its sights on the five-day moving average of 15,828.99.

Still, the benchmark Nikkei is off to a slow start this year after rocketing 57 percent in 2013, energised by Tokyo's massive fiscal and monetary stimulus to revive the world's third-largest economy.

The broader Topix index advanced 2 percent to 1,294.52 on Wednesday, with 2.69 billion shares changing hands, the lowest since December 27.

The JPX-Nikkei Index 400, a new gauge comprised of firms with high return on equity and strong corporate governance to appeal to investors which started trading on January 6, gained 1.4 percent to 11,686.84.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Salman should be punished for what he did and not for who he is

    Salman Khan is a Bollywood phenomenon. On the professional front, he can do no wrong.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Learning the art of learning styles

Recently, I met a group of new teachers from different ...

Rajgopal Nidamboor

The essence of creative energy

Creativity or originality isn’t the privilege of working minds, even ...

Gautam Gupta

Indian designers can learn a lot from Benetton

I was reading an article in the magazine about Benetton ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture