Nikkei soars as risk appetites returns on weak yen, oil rebound

lunes 18 de abril de 2016 22:22 GYT
 

* Manufacturers rebound as yen eases

* Construction stocks underperform after Monday surge

By Ayai Tomisawa

TOKYO, April 19 (Reuters) - Japan's Nikkei share average soared on Tuesday morning, as a weak yen and a bounce in oil prices helped the market erase a sharp drop from the previous day.

The Nikkei rose 3.7 percent to 16,869.29 in mid-morning trade, after falling 3.4 percent on Monday.

Sentiment has also been supported by a rebound in oil prices, which edged up in early trading on Tuesday as an oil worker strike in Kuwait cut huge amounts of crude out of the supply chain.

"The bad news seems to have been priced in for now," said Hikaru Sato, a senior technical analyst at Daiwa Securities, adding that investors will look out for companies' earnings and forecasts, which start coming out next week, before they take new positions.

Major exporters rebounded sharply after tumbling on Monday, hit by a stronger yen and worries that earthquakes that hit southern parts of Japan could disrupt their supply chains.

Sony Corp surged 6.7 percent, Toyota Motor Corp gained 3.6 percent and Honda Motor Co rose 4.6 percent.   Continuación...