Nikkei up 0.3 pct after sharp fall, Wall St rise
(Updates to midmorning)
TOKYO, Dec 25 (Reuters) - The Nikkei share average rose 0.3 percent in holiday-thinned trade on Thursday, with Toyota Motor Corp (7203.T) and other battered stocks rebounding after the U.S. Dow snapped a five-day losing streak.
But Isuzu Motors Ltd (7202.T) dipped after a newspaper reported the Japanese truck maker plans to implement temporary pay cuts for all of its 8,000 full-time workers in Japan in response to a steep sales decline. [ID:nN24364005]
"This is simply a rebound, and even small orders can exaggerate market moves as the number of participants is so small," said Tsuyoshi Segawa, an equity strategist at Shinko Securities.
"The yen may be a bit softer against the dollar, but the stock market is paying little attention to the currency market now as it also lacks enough participants. Both markets are in the holiday mood."
The benchmark Nikkei .N225 edged up 24.93 points to 8,542.03, after losing 2.4 percent the previous day.
The broader Topix gained 0.6 percent to 831.81.
U.S. trading ended at 1 p.m. (1800 GMT) on Wednesday for Christmas Eve, with the Dow Jones industrial average .DJI ending up 0.6 percent.
U.S. markets will be closed on Thursday for Christmas, and they reopen on Friday.
Analysts say trade will likely quiet down further towards the end of the year due to suspension of some large stocks in connection with the transition to the paperless share system in Japan to be implemented on Jan 5, 2009.
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