Tokyo stocks end higher on bargain-hunting, exporter gains

Tokyo, Nov 15 Tokyo stocks ended higher on Friday with the benchmark Nikkei snapping a three-day losing streak as investors bought battered shares, while a weaker yen boosted exporters including automakers.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 107.21 points, or 0.28 per cent, from Thursday at 38,642.91, Xinhua news agency reported.

The broader Topix index, meanwhile, finished 10.42 points, or 0.39 per cent, higher at 2,711.64.

Stocks rose as investors snapped up bargains after the Nikkei lost nearly 1,000 points over the past three days, with export-oriented automakers gaining amid the yen's weakness, while banks and other financial issues were sought after three Japanese megabanks reported higher profits for the April-September period and raised full-year profit outlooks, analysts said.

Market watchers here noted that gains were limited in the afternoon, as the market is concerned by US economic policy under President-elect Donald Trump as he continues to announce cabinet picks.

Source: IANS