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Nikkei rebounds sharply as Canon, banks gain

Nikkei rebounds sharply as Canon, banks gain
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First Published: Tue, May 27 2008. 11 57 AM IST
Updated: Tue, May 27 2008. 11 57 AM IST
Reuters
Tokyo: Japan’s Nikkei stock average rose 1.5% on 27 May, rebounding sharply from a two-week closing low hit the previous day, with stocks that had fallen sharply such as Canon Inc and banks regaining ground.
Major paper firms also surged, with Mitsubishi Paper Mills Ltd jumping 9.1% a day after Mitsubishi UFJ Securities raised its rating on paper mills, saying printing paper price hikes should drive up their earnings.
The benchmark Nikkei average ended up 203.12 points at 13,893.31. It slid 2.3 % in the previous trading session to book its lowest close in two weeks. The broader Topix index rose 1.8% to 1,368.25.
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First Published: Tue, May 27 2008. 11 57 AM IST
More Topics: Markets | Japan | Stocks | Nikkei | Topix |