Nikkei 225 Up 0.4% on Bargain Hunting, Wall Street Signals

The Nikkei 225 opened evenly and gained mildly through the day, finishing up 0.4% as investors bargain-hunted issues beaten down in after three trading days of losses on pandemic concerns, and weighed a Wall Street futures market flashing green.

The Nikkei 225 rose 113.86 to 27,935.62, as gaining issues outnumbered losers 159 to 64.

Leading the upside were air-conditioner maker Daikin Industries (DKILY, 6367), up 4.5%, followed by robot manufacturer FANUC (FANUY, 6954), up 4.5% and then paper maker Oji (OJIPY, 3861), up 4.4%.

On the downside were web-services outfit CyberAgent (CYGIY, 4751), off 3.9%, and then Mitsubishi Motors (MMTOF, 7211), off 3.3%.

In other news, the au Jibun Bank Japan Manufacturing Purchasing Managers' Index was upwardly revised to 54.5 in November from the flash reading of 54.2, and the final 53.2 in October, IHS Markit reported. Readings above 50 on the index indicate a sector in expansion.

Also, capital spending by Japanese companies rose 1.2% in Q3 from a year earlier, up for the second straight quarter, reported the Finance Ministry.