Nikkei may snap 5-day losing streak; global growth worries persist

martes 14 de octubre de 2014 22:20 GYT
 

* Nikkei turns up modestly after five days of losses
    * Trading houses fall as global oil prices drop
    * German economic worries linger

    By Thomas Wilson
    TOKYO, Oct 15 (Reuters) - Japan's Nikkei share average
staged a modest rebound on Wednesday after a five-day losing
streak, but concerns about a loss of momentum in the global
economy after fresh evidence of fall in German business
sentiment limited gains.
    The Nikkei was up 0.4 percent at 15,003.22 around
0130 GMT, after falling to a two-month low on Tuesday.
    "For now the market has calmed and there's some short
relief. It's a natural rebound," said Takashi Hiroki, chief
strategist at Monex in Tokyo.
    Offering some respite to Japanese export shares was a halt
to the yen's appreciation. The dollar clawed its way up to
107.24, a rise of 0.2 percent, after having fallen to as
low as 106.68 yen on Tuesday.
    Denso climbed 2.3 percent while Shin-etsu Chemical
< rose 1.1 percent.
    Despite the Nikkei's rebound, lingering concerns at the
state of the global economy left investors skittish.     
    A sharp lowering of German growth forecasts for 2014 and
2015 - coupled with the first negative reading in an index of
analyst morale for nearly two years - underscored the fragility
of the euro zone's biggest economy. [ID: nL6N0S93JY]
    An outbreak of the deadly Ebola virus is also casting a
shadow on the global economic outlook, some investors also said.
    "It feels a bit scary. This could be the first epidemic that
the human society does not have prescription for in modern
times. This will surely make international trade more
difficult," said a fund manager at a Japanese asset management. 
    Energy-related shares remained under pressure after oil
prices fell steeply on Tuesday, as a triple whammy of weak
demand, high U.S. output of shale oil and a continued high
output by OPEC members saw traders unable to staunch continued
losses. [ID: nL2N0S31MJ]
    Inpex Corp fell 2.4 percent and Japan Petroleum
Exploration lost 2.5 percent.
    Many trading house shares - sensitive to fluctuations in
energy prices - also underperformed. Marubeni Corp fell
0.3 percent, while Mitsui Co Ltd lost 0.1 percent. 
    The broader Topix added 0.2 percent, rising to
1,216.55, while the new JPX-Nikkei Index 400 rose
0.1 percent to 11,064.80.

 (Reporting by Thomas Wilson; Additional reporting by Hideyuki
Sano; Editing by Jacqueline Wong)