TOKYO, Aug 30 (Reuters) - Japanese shares rose on Tuesday
led by technology heavyweights, as the market rebounded from a
two-week low hit in the previous session following limited
losses on the Wall Street overnight.
By 0215 GMT, the Nikkei share average had gained
0.9% to 28,128.04 and the broader Topix had advanced
1.03% to 1,964.02.
"Wall Street declined overnight but their losses were
limited, which underpinned sentiment for the Japanese market,"
said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo
"U.S. futures gain is another positive factor."
U.S. stocks closed lower on Monday, adding to last week's
sharp losses on nagging concerns about the Federal Reserve's
determination to aggressively hike interest rates to fight
inflation even as the economy slows.
In Japan, chip making equipment maker Tokyo Electron
rose 1.22% and was the biggest boost for the Nikkei,
followed by technology investor SoftBank Group, which
rose 1.04%. Phone company KDDI rose 2.23%.
NEC surged 6.81% after the computer maker announced buying
back up to 2.46% of its own shares.
Olympus rose 1.76% after the medical equipment
maker agreed to sell its microscope unit to private equity firm
Bain Capital for 427.6 billion yen ($3.1 billion), in what would
be the Japanese company's biggest divestment yet.
Oisix Ra Daichi rose 4.38% after the grocery
delivery firm announced an offer to buy a stake in restaurant
Shidax tanked 7.87% as the offer price was lower than the
close of the previous session.
There were 198 advancers on the Nikkei index against 22
The volume of shares traded on the Tokyo Stock Exchange's
main board was 0.46 billion, compared to the average of 1.11
billion in the past 30 days.
(Reporting by Junko Fujita; Editing by Rashmi Aich)