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Japanese stocks rose to a fresh one-month high on Wednesday as expectations of strong corporate earnings and a weaker yen boosted investor sentiment.
The Nikkei benchmark gained 0.2 per cent to close at 17,795.73, its highest since December 29, after reversing early losses triggered by profit-taking after disappointing US earnings. The average rose 1.7 per cent on Tuesday.
Market participants were also buying on expectations that Wall Street shares would recover Tuesday’s losses on Wednesday, as US stock futures rebounded during Asian hours.
Sony Corp gained 2.7 per cent after sources told Reuters it plans to cut around 1,000 more jobs in its struggling smartphone division.
The broader Topix gained 0.3 per cent to 1,429.92, while the JPX-Nikkei Index 400 ticked up 0.1 per cent to 12,969.74.
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