Nikkei up on bargain hunting but poised for worst monthly drop in 4 years

miércoles 29 de junio de 2016 22:06 GYT

* Nikkei has dropped 9.2 pct on month

* Surging yen, Brexit weigh heavily

* Mitsubishi Heavy soars on report about subsidiary's plant plan

By Ayai Tomisawa

TOKYO, June 30 (Reuters) - Japan's Nikkei share average rose for a fourth day on Thursday, helped by bargain hunting in recently battered stocks, but the benchmark index looked set for its biggest monthly drop in more than four years as a surging yen pressures exporters.

The Nikkei gained 0.7 percent to 15,671.89 points by mid-morning.

It has now recouped more than half of its losses since Friday's global market rout sparked by the Britain's vote to leave the European Union.

But in June, the Nikkei has tumbled 9.2 percent, the biggest monthly drop since May 2012.

"The market panicked at first (about Brexit), but it doesn't look like it is spreading into a financial crisis or something serious at least at this moment," said Hikaru Sato, senior technical analyst at Daiwa Securities.   Continuación...