Nikkei rebounds on bargain-hunting, mining sector remains weak

TOKYO: Japan's Nikkei share average ended higher on Thursday, taking back some ground lost in the previous session as investors snapped up bargains after the benchmark index skidded its most in 8.5 months.

The Nikkei finished up 1.45 per cent , or 320.99 points, at 22,498.03, following its biggest fall since March the previous day, when it broke key technical support at its 25-day moving average.

Index heavyweight Fast Retailing added 2.37 per cent .

Pharmaceutical shares added 1.04 per cent , while securities shares were up 0.61 per cent .

Oil shares added 1 per cent after crude oil futures steadied following an overnight sell-off.

But mining shares slumped 0.9 per cent,continuing their weakness as the price of copper wallowed at low levels after dropping more than 4 per cent on Tuesday, its biggest daily fall in almost 2.5 years.

Shares of Advantest Corp rose 1.76 per cent,after Nikkei reported that the chip company's fiscal year operating profit is seen reaching 20 billion yen ($177.87 million).

The broader Topix rose 1.18 per cent,or 20.83 points, to 1,786.25, while the JPX-Nikkei Index 400 rose 1.17 per cent,or 183.51 points, to 15,825.72.