January 19, 2017 / 6:38 AM / 2 years ago

Nikkei rises as financials gain; Toshiba, Takata dive

TOKYO, Jan 19 (Reuters) - Japan’s Nikkei share average rebounded from a six-week low on Thursday, with financial stocks cheered by the rise in U.S. bond yields after Federal Reserve Chair Janet Yellen signalled a solid pace of interest rate hikes.

The Nikkei rose 0.9 percent to 19,072.25, rebounding from six-week lows of 18,650.33 touched on Wednesday.

But declines in the shares of Toshiba Corp and Takata Corp were under the spotlight.

Toshiba dived 16 percent to 242.3 yen, the lowest closing level since April 2016 after Kyodo news agency reported that it could post a loss of 700 billion yen ($6.1 billion) at its U.S. nuclear reactor business, much bigger than the 500 billion yen loss it had earlier flagged to investors.

Takata stumbled 17 percent to a three-week low after remaining untraded with a glut of sell orders following a report by the Nikkei business daily that Key Safety Systems (KSS) and Swedish air bag maker Autoliv Inc planned to propose a court-mediated turnaround for Takata’s Japanese operations.

The broader Topix rose 0.9 percent to 1,528.15.

The JPX-Nikkei Index 400 added nearly 1 percent at 13,695.53. (Reporting by Ayai Tomisawa; Editing by Amrutha Gayathri)

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