HONG KONG (MarketWatch) - Japanese indexes rebounded Monday afternoon,
with the benchmark Nikkei 225 Average snapping out of a 12-day losing
streak as investors looked for bargains in ex****ters such as Canon
Inc. and banks like Mizuho Financial Group.
The Nikkei 225 Average rose 0.5% to 13,308.57, after dropping as low
as 13,169.55 earlier in the day. The gains came after the benchmark
lost nearly 8.5% in the previous 12 sessions. The broader Topix index
slipped 1% to 1,310.98.
Trading volumes were thin in Tokyo in the absence of cues from U.S.
markets, which were closed Friday for a holiday.
The rest of the region was mixed, with Chinese stocks in Shanghai and
Hong Kong rising sharply on banks and beaten-down airline stocks.
Banks however led the drop in Sydney on concerns about global credit
markets.
China's Shanghai Composite surged 4% to 2,776.28 and Hong Kong's Hang
Seng Index rose 1.4% to 21,715.41. Australia's S&P/ASX 200 dropped
1.8% to 4,992.90 and South Korea's Kospi gave up 0.2% to 1,575.40.
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