February 5, 2014 / 6:20 AM / in 4 years

Nikkei rises 1.2 pct in volatile session; Panasonic, Toyota shine

TOKYO, Feb 5 (Reuters) - The Nikkei average rose 1.2 percent
in a volatile session on Wednesday, rebounding from a four-month
low as investors scooped up recently battered stocks such as
Panasonic and Toyota Motor following strong earnings reports.
    The Nikkei ended 171.91 points higher at 14,180.38
after briefly dropping to 13,995.86 in afternoon trade, the
lowest intraday level since Oct. 8.
    Traders cited hedge funds' selling of futures in reaction to
the slightly rising yen during Tokyo lunchtime.
    The Topix gained 2.1 percent to 1,162.64, with all
of its 33 subsectors in positive territory.
    Panasonic Corp jumped 19 percent and was the
fourth-most traded stock on the main board after its quarterly
earnings more than tripled. 
    Toyota Motor Corp soared 6 percent and was the
second-most traded stock after it raised its annual profit
forecast to a record level, while Hitachi Ltd gained
4.1 percent after also lifting its guidance. 
    The JPX-Nikkei Index 400, an index launched this
year comprised of firms with high return on equity and strong
corporate governance, rose 1.9 percent to 10,521.40.

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