Nikkei rises as yen weakens, lifting exporters and sentiment

jueves 25 de febrero de 2016 02:13 GYT
 

By Joshua Hunt

TOKYO Feb 25 (Reuters) - Japanese stocks rose in choppy trade on Thursday after the yen resumed its weakening trend against the U.S. dollar, lifting exporters' share prices and broader market sentiment.

The Nikkei share average gained 1.4 percent to 16,140.34. Japan's benchmark index rose on an overnight bounce in oil prices during its morning session, then added to those gains in the afternoon as the yen moved away from its recent highs.

Sharp Corp shares ended 14.4 percent lower after the struggling electronics firm agreed to a takeover by Taiwan's Foxconn.

The takeover news first sent its share prices up 5.8 percent before details emerged indicating the possibility of a larger-than-expected dilution of its stock. The deal represents the largest acquisition of a Japanese tech firm by a foreign company and one that will bolster Foxconn's position as Apple Inc's largest supplier.

The broader Topix rose 1.8 percent to end the day at 1,307.54 with each of its 33 subindexes in positive territory.

The JPX-Nikkei Index 400 climbed 1.9 percent to 11,841.88. (Reporting by Joshua Hunt; Editing by Sam Holmes)