Nikkei rises to end 4-day losing run; exporter and steel shares bounce

Japan Steel Works

06/03/2018 06:37

TOKYO, March 6 (Reuters) - Japan's Nikkei share average rose
on Tuesday to snap a four-day losing run after Wall Street
shares rallied overnight, with the dollar's bounce lifting
exporter shares. 
    The Nikkei  .N225  ended the day up 1.79 percent at
21,417.76.
    The index's four-day run of losses reflected a slump in
global risk sentiment after U.S. President Donald Trump proposed
stiff tariffs on imported steel and aluminium last week.
    Equity markets rebounded, however, as fears of a global
trade war ebbed somewhat as expectations rose that Trump would
back down from imposing the tariffs.
    Japan's big car exporters were supported by the dollar's
rebound versus the yen. 
    Honda Motor Co  7267.T  rose 1.6 percent, Toyota Motor Corp
 7203.T  gained 1 percent and Suzuki Motor Corp  7270.T  climbed
2.4 percent.
    Panasonic Corp  6752.T  gained 1.1 percent and Tokyo
Electron  8035.T  added 2.85 percent.
    Steel shares also rose, with Nippon Steel & Sumitomo Metal
 5401.T  advancing 1 percent and JFE Holdings  5411.T  gaining
1.16 percent.
    The largest percentage gainer in the Nikkei index was Japan
Steel Works Ltd  5631.T , which rose 9.05 percent.
    There were 201 advancers on the index against 19 decliners. 
    The broader Topix  .TOPX  was 1.27 percent higher at
1,716.30.
    The dollar was at 106.205 yen  JPY= , having recovered from
a 15-month low of 105.240 plumbed on Friday.

 (Reporting by the Tokyo markets team
Editing by Eric Meijer)
 ((shinichi.saoshiro@thomsonreuters.com; Reuters Messaging:
shinichi.saoshiro.reuters.com@reuters.net
+813-6441-1774))