Nikkei Gains on Yellen Comments, China Data; Nintendo Pares Loss

Japan’s Nikkei share average rose on Thursday as comments by the U.S. Federal Reserve chief and upbeat Chinese data improved sentiment, while Nintendo pared early losses after its chief said it will plan to launch a console for emerging markets.

The Nikkei ended up 0.9 percent at 14,163.78, recovering from a three-week closing low of 14,033.45 hit on Wednesday. Hit by a wider-than-expected loss, Nintendo Co dropped as much as 5.6 percent to 10,070 yen, its lowest since June 2013, before recovering and ending down 0.7 percent at 10,595 yen. Nintendo Chief Executive Satoru Iwata said on Thursday afternoon he plans to introduce a new kind of games console and software for emerging markets as early as next year, rather than launch existing hardware such as its Wii U or 3DS.

Chinese exports rose 0.9 percent in April from a year earlier, beating expectations of a 1.7 percent decline, while imports also were stronger than economists’ estimates.

The broader Topix added 0.7 percent to 1,160.01, while the new JPX-Nikkei Index 400 advanced 0.8 percent to 10,556.68.

Source: Reuters

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