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Japan's Nikkei rebound from 2-month low, tech shares lead

09/26/2022 | 11:39pm EST

TOKYO, Sept 27 (Reuters) - Japan's Nikkei rebounded from a two-month low on Tuesday, with technology stocks leading gains, as investors scooped up beaten-down shares following a global sell-off after U.S. Federal Reserve maintained its aggressive policy stance.

The Nikkei rose 0.83% to 26,651.60 by the midday break, after falling to its lowest since July 14 earlier in the session. The broader Topix advanced 0.96% to 1,882.09.

Shares of robot manufacturer Fanuc rose 1.77% to boost the Nikkei, followed by a 2.14% jump in battery maker TDK . Staffing agency Recruit Holdings gained 2.35%.

The market has been regaining momentum rapidly after a global sell-off in the wake of the U.S. Fed's policy tightening, said a market participant at a domestic brokerage.

Phone company KDDI Corp and chip-making equipment maker Tokyo Electron weighed on the index the most, losing 0.88% and 0.31%, respectively.

Shares of cosmetics maker Corp advanced 2.76% to lead the top 30 core Topix names, followed by Nintendo Co climbing 2.64%.

Only two sector sub-indexes on the Tokyo Stock Exchange traded in red, with real estate losing 0.14% and shippers dropping 0.26%.

There were 190 advancers in the Nikkei index against 24 decliners.

The volume of shares traded on the exchange's main board was 0.57 billion, compared with the average of 1.12 billion in the past 30 days. (Reporting by Junko Fujita and the Tokyo markets team)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FANUC CORPORATION -0.17% 20410 Delayed Quote.-16.00%
KAO CORPORATION -0.57% 5554 Delayed Quote.-6.89%
KDDI CORPORATION -0.39% 4108 Delayed Quote.22.13%
NIKKEI 225 -0.42% 28162.83 Real-time Quote.-1.77%
NINTENDO CO., LTD. -0.47% 5878 Delayed Quote.11.07%
RECRUIT HOLDINGS CO., LTD -0.75% 4389 Delayed Quote.-36.55%
TDK CORPORATION -1.31% 4880 Delayed Quote.10.36%
TOKYO ELECTRON LTD. -0.86% 44910 Delayed Quote.-30.57%
TOPIX INDEX -0.64% 1991.42 Delayed Quote.1.29%
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