Nikkei seesaws, manages to rise after Christmas sell-off [Reuters]
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Source: Reuters
Nikkei seesaws, manages to rise after Christmas sell-off | Reuters 3 Min Read * Nikkei 0.9 pct higher after previous day’s 5 pct drop * Benchmark index helped by short covering * Toyota, Sony, Keyence rise; Fast Retailing, SoftBank fall By Daniel Leussink TOKYO, Dec 26 (Reuters) - Japan’s Nikkei, which plummeted into bear market territory the previous day, ended higher after seesawing on Wednesday, helped by short-covering. The Nikkei share average closed 0.89 percent higher at 19,327.06, barely shaking off Tuesday’s 5.01 plunge - the steepest single-day decline in over two years. The searing sell-off left the benchmark down about 21 percent from a 27-year peak scaled in early October, meaning it’s still in bear market territory entered during the previous session. Nikkei seesawed in afternoon trade, dropping into the red and at one point losing more than 1 percent, before pulling back up in late trading to end the session in positive territory. The broader Topix finished 1.12 percent
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