Bargain-hunting helps Tokyo stocks snap 4-session losing streak

Jiji Press TOKYO (Jiji Press) — Stocks snapped their four-session losing streak on the Tokyo Stock Exchange Monday, supported by buying on dips by individual investors.

The 225-issue Nikkei average gained 19.63 points, or 0.11 percent, to end at 18,355.26. On Friday, the key market gauge lost 91.21 points.

The TOPIX index of all First Section issues finished up 6.62 points, or 0.45 percent, at 1,465.69, after retreating 9.24 points the previous trading day.

Tokyo stocks got off to a dismal start following the yen’s appreciation against the dollar prompted by the announcements Friday of weaker-than-expected U.S. consumer prices and retail sales. Persistent geopolitical risks also continued pressuring the dollar.

But the market turned buoyant in the afternoon, as investors went bargain-hunting after the four-day sell-off through Friday, in which the key Nikkei average gave up over 460 points, brokers said.

Rising issues far outnumbered falling ones 1,395 to 511 on the TSE’s First Section, while 109 issues were unchanged.

Volume decreased to 1,454 million shares, from Friday’s 1,838 million shares.

Individual investors bought small-cap and defensive stocks actively, while the market’s topside was heavy in thin trading with many foreign players off for the Easter holiday, a bank-affiliated securities firm official said.Speech

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