Japan Nikkei rebounds on bargain hunting

25 Aug 2022 , 05:03 PM

Japanese share market finished session higher on Thursday, 25 August 2022, as investors scooped up bargains after selloff in previous five sessions. However, market gains were limited as investors took to the sidelines ahead to Fed Chair Jerome Powells speech at the central banks economic symposium at Jackson Hole, Wyoming on Friday, for clues about the banks outlook for the economy and interest rates. At closing bell, the 225-issue Nikkei Stock Average index rose by 165.54 points, or 0.58%, to 28,479.01. The broader Topix index of all First Section issues on the Tokyo Stock Exchange advanced 9.42 points, or 0.48%, to 1,976.60. Shares of power companies climbed after the Japanese government said the nation would restart more idled nuclear plants and considering constructing next-generation nuclear power plants. Nuclear power plant operator Tokyo Electric Power Company Holdings rose 0.8%. IHI gained 2.3%, Hitachi Zosen added 2.16% and Mitsubishi Heavy Industries was up 1.8%. Mitsubishi Corp added 1.9% after the trading house said it would apply for a stake in the new Russian entity that took over the Sakhalin-2 liquefied natural gas project. CURRENCY NEWS: The dollar turned slightly lower around mid-136 yen in Tokyo trading on Thursday ahead of a closely watched economic symposium starting in the United States later in the day. At 5 p.m., the dollar stood at 136.48-48 yen, down from 136.54-55 yen at the same time Wednesday. Powered by Capital Market – Live News