Nikkei rises as rebound in oil prices eases worry about global economy

miércoles 14 de enero de 2015 22:22 GYT

* Market unaffected by news machinery orders up less than
    * Skymark dives after Asahi says it will not seek help from

    By Ayai Tomisawa
    TOKYO, Jan 15 (Reuters) - Japan's Nikkei gained on Thursday,
recovering from a one-month low as rebounding oil prices eased
worries about the global economy, while a pause in the rising
yen lifted exporters such as Toyota Motor Corp. 
    The Nikkei rose 1.0 percent to 16,970.96 in
mid-morning trade. It fell 1.7 percent the previous day to close
at the lowest level since Dec. 17.
    World oil prices had their biggest surge in two-and-a-half
years overnight, rebounding from a nearly six-year low as
traders turned away from the bearish pressures of a worldwide
glut to cover themselves on expiring options. 
    "People have been focused on negative effects that falling
oil prices would have on the global economy, and these
short-term players have made the market volatile," said Masaru
Hamasaki, head of market and investment information department
at asset manager Amundi Japan.
    "But in the long term, weak oil prices and weak yen have
benefits for Japan, and if they start focusing on such long-term
effects, the market will likely post stable gains." 
    On Thursday, exporters were in demand as the dollar rose to
117.33 yen, recovering from 116.07 yen, a level last seen
on Dec. 16. Toyota gained 1.3 percent, Sony Corp
 added 1.4 percent and Canon Inc rose 0.9
    Bucking the strength, Skymark Airlines tumbled 15
percent to a two-week low after the Asahi Shimbun reported the
struggling airline decided not to seek help from ANA Holdings
 and will likely try to reconstruct its business on its
    Skymark's shares rose last month on news it would hold talks
on code-share flights with ANA and seek fresh funds from
    The market did not move on news that Japan's core machinery
orders rose less than expected in November due to declining
orders in the manufacturing sector. The data suggested companies
are still cautious about capital expenditure due to worries
about domestic demand. 
    The broader Topix added 0.8 percent to 1,368.54, and
the JPX-Nikkei Index 400 advanced 0.8 percent to

 (Editing by Richard Borsuk)