Nikkei edges up as buying in oil-related stocks offset profit-taking; Sharp soars
TOKYO, April 16 (Reuters) - Japanese stocks edged up on Thursday, as buying in oil and mining shares reversed early losses, offsetting profit-taking in recent gainers such as food stocks, while Sharp Corp surged on restructuring hopes. The Nikkei 225 ended 0.1 percent higher at 19,885.77 after trading in negative territory earlier. The broader Topix rose 0.7 percent to 1,599.42, with 2.54 billion shares changing hands, the highest level since March 27. The JPX-Nikkei Index 400 advanced 0.6 percent to 14,498.14. Rising oil prices lifted oil and mining stocks, with Inpex Corp soaring 5.4 percent and Japan Petroleum Exploration gaining 3.8 percent. Brent crude oil hit 2015 highs above $63 per barrel on Thursday after a rally of more than 5 percent the previous session and analysts said more price rises were likely despite market oversupply. Sharp surged 4.5 percent after a source said it and its main banks are to meet on Thursday to a $1.7 billion rescue for the loss-making electronics firm. (Editing by Simon Cameron-Moore)
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