February 8, 2018 / 2:41 AM / 5 months ago

Nikkei rises on bargain hunting but investors edgy after wild sell-off

TOKYO, Feb 8 (Reuters) - Japan’s Nikkei share average edged higher on Thursday as buyers looked for bargains on shares which were beaten down heavily early in the week, but gains were cautious as investors feared further wild volatility in global markets.

The Nikkei gained 0.2 percent to 21,694.90 points by midmorning, but has still lost nearly 7 percent so far this week.

Automakers, glassmakers and pharmaceutical stocks led gains, while food, utility and metal stocks lost ground.

Toyota Motor Corp rose 2.2 percent, Honda Motor Co advanced 0.7 percent, Asahi Glass soared 4.0 percent and Takeda Pharmaceutical added 1.2 percent.

Condiment maker Ajinomoto shed 1.2 percent, Tokyo Electric Power Co and Chubu Electric Power Co both declined 1.0 percent, and Mitsubishi Materials slid 0.9 percent and Toho Zinc stumbled more than 8 percent.

The broader Topix rose 0.4 percent to 1,756.01. (Editing by Kim Coghill)

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