Japan’s Nikkei Index Closes Higher, Extending Gains for a Fourth Day By Reuters

Japan’s Nikkei Index Closes Higher, Extending Gains for a Fourth Day By Reuters
Japan’s Nikkei Index Closes Higher, Extending Gains for a Fourth Day By Reuters
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© Reuters. A screen showing stock price data for Tokyo in a photo from Reuters archive.

From Kevin Buckland

TOKYO (Reuters) – The Japanese index rose on Wednesday, extending its gains for a fourth session, but the gains reversed after rising above the important 27,000 level in the previous session.

Dai Nippon Printing, a supplier of auto battery components, rose 13 percent, leading the index, after media reports that investment management firm Elliott Management acquired a large stake.

Another big gainer was Suzuki Motor, after more than doubling the quarterly profit of its Indian unit Maruti Suzuki.

The Nikkei index ended today’s session up 0.35 percent, at 27,395.01. It resumed trading after the lunch break strong, touching a five-week high of 27473.90, but was unable to maintain this momentum.

The index rose 2.8 percent over the previous two sessions, surpassing the 27,000 level, after fluctuating for most of the past month around the 26,000 level.

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The broader Topix index rose 0.39% on Wednesday to 1980.69.

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Of the 225 stocks listed on the Nikkei index, 175 rose, 45 fell, and five remained at the same level.

Dai Nippon Printing jumped 14.81 percent, which also led to its peer Tuban rising 4.57 percent, to be the third best performer on the Nikkei index.

Suzuki finished second with a gain of 5.62 percent.

In contrast, Nidec Motors fell 5.38 percent, to be the worst performer on the Nikkei index by a large margin.

(Prepared by Amira Zahran for the Arabic Bulletin – Edited by Duaa Muhammad)

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