TOKYO: Japan’s Nikkei stock moving average recouped early losses on Wednesday and traded slightly higher as investors bought back shares after gains in US stock futures.
By 0152 GMT, the Nikkei was up 0.18% to 31,914.73 after opening down 0.44%. The broader Topix rose 0.14% to 2,268.90.
“Investors bought back shares after seeing gains in US stock futures,” said Jun Morita, general manager of research at Chibagin Asset Management.
“They realized there was no reason to rush to sell stocks.”
The Dow Jones Industrial Average and the S&P 500 ended slightly lower on Tuesday as investors remained concerned that the Federal Reserve could keep interest rates high for longer.
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