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Nikkei logs best day in 4 months after Tuesday's slide
January 15, 2014 / 6:16 AM / 4 years ago

Nikkei logs best day in 4 months after Tuesday's slide

TOKYO, Jan 15 (Reuters) - Tokyo's Nikkei stock average
climbed 2.5 percent on Wednesday, its biggest one-day gain in
four months, buoyed by a robust U.S. retail sales report that
soothed concerns the pace of growth in the world's largest
economy was slowing.
    The jump came after the Nikkei suffered its worst one-day
decline in five months the prior day, with a 3.1 percent drop
after a surprisingly weak U.S. nonfarm payroll report last
Friday. Monday was a public holiday in Japan.
    The Nikkei ended 386.33 points higher at 15,808.73,
breaking above its 25-day moving average of 15,702.72 and
setting its sights on the five-day moving average of 15,828.99.
    Still, the benchmark Nikkei is off to a slow start this year
after rocketing 57 percent in 2013, energised by Tokyo's massive
fiscal and monetary stimulus to revive the world's third-largest
economy.
    The broader Topix index advanced 2 percent to
1,294.52 on Wednesday, with 2.69 billion shares changing hands,
the lowest since Dec. 27.
    The JPX-Nikkei Index 400, a new gauge comprised
of firms with high return on equity and strong corporate
governance to appeal to investors which started trading on Jan.
6, gained 1.4 percent to 11,686.84.

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