Nikkei gains in choppy trade, weak yen brightens mood after Wall St falls

miércoles 27 de enero de 2016 22:52 GYT

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By Ayai Tomisawa

TOKYO, Jan 28 (Reuters) - Japan's Nikkei edged up on Thursday morning in choppy trade as a weaker yen boosted export-exposed stocks like automakers, cheering investors after the market opened lower under the influence of weak Wall Street performances overnight.

The Nikkei share average gained 0.2 percent at 17,196.30 by the midday break, after falling as low as 16,942.13 earlier.

Wall Street stocks had slipped after the U.S. Federal Reserve, kept interest rates unchanged, saying it was "closely monitoring" global economic and financial development. Though widely expected, the decision underlined the potential for future U.S. interest rate hikes.

As the dollar gained versus the yen, rising as far as 119.08 , exporter stock were in demand. Toyota Motor Corp and Nissan Motor Co both rose 0.8 percent.

Hit by falling oil prices and fears of slower economic growth in China, the Nikkei has fallen 10 percent since the beginning of the year, slipping to a 14-1/2 month low of 16,017.26 last week.

"It looks like the market has hit the bottom for now after assets which have been sold, such as oil and the dollar, rebounded," said Norihiro Fujito, a senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.   Continuación...