TOKYO – The Tokyo Stock Exchange recovered slightly on Wednesday to close with a rise of 0.16 percent after erasing most of the gains it made earlier in the day.
The Nikkei index closed higher by 35.13 points or 0.16 percent from Tuesday to stand at 21,645.37 while the Topix, the second most important indicator, which tracks all domestic companies of the Tokyo Stock Exchange’s First Section, rose 6.5 points or 0.37 percent, to 1,749.91.
The exchange opened on a positive note and showed gains of over 3 percent in a few minutes, buoyed by reports of Wall Street’s rebound on Tuesday, recovering most of the losses Japanese stocks posted Tuesday they closed 4.7 percent down.
Tokyo continued to perform well, propelled by reports of good earnings by domestic companies, but later erased most of its initial gains due to unease among investors over recent losses.
The gainers were led by oil and coal sectors, followed by machinery and pharmaceutical issues.