Japan's Nikkei rebounds 0.68%

Asian markets broadly rallied and remained insulated from the turbulence in China's stock markets. Market sentiment in Japan improved considerably after headline inflation rate slowed to a nine-month low. Weak corporate earnings, worries about economic growth as well as concerns about the efficacy and sufficiency of stimulus measures contributed to the sell-off in China and Hong Kong.

The Japanese benchmark Nikkei 225 rebounded 258 points or 0.68 percent to close at 38,146.98. The day's trading range was between 38,420.63 and 38,085.13.

Credit Saison surged 6.2 percent. Mitsui Chemicals rallied more than 5 percent. Resonac Holdings Corp, Yokogawa Electric Corp and Obayashi Corp, all gained more than 4 percent.

Taiyo Yuden, Suzuki Motor Corp and IHI Corp, all slipped more than 2 percent. Omron Corp and Isetan Mitsukoshi Holdings, both declined more than 1 percent.

Overall consumer prices in Japan were up 2.3 percent on year in October, the Ministry of Internal Affairs and Communications said on Friday.

The manufacturing sector in Japan continued to contract in November, and at a faster pace, the latest survey from Jibun Bank revealed on Friday with a manufacturing PMI score of 49.0.

The survey also showed that the services PMI improved to 50.2 from 49.7 in the previous month.

The composite PMI rose to 49.8 in November from 49.6 on October.

Powered by Capital Market - Live News