Nikkei rises for third day, helped by public pension buying hopes

Wed Aug 13, 2014 2:25am EDT

TOKYO, Aug 13 (Reuters) - Tokyo stocks gained for the third
consecutive session on Wednesday, as hopes of more buying by the
country's giant public  pension fund countered headwinds from
the conflict in Ukraine and soft Chinese loans data.
    Japan's economy shrank an annualised 6.8 percent in the
second quarter, the biggest contraction since the devastating
March 2011 earthquake but the slump was in line with forecast
and had little impact on the market.
    The Nikkei rose 0.4 percent to 15,213.63 while the
broader Topix gained 0.4 percent to 1,262.13, a one-week
closing high. But trade volume was low, due to the "obon" summer
holidays. 
    The new JPX-Nikkei Index 400 rose 0.3 percent to
11,488.14.

 (Reporting by Hideyuki Sano; Editing by Shri Navaratnam)
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