Stocks in Japan rebounded after weak trading in the last three days. The Nikkei index rebounded 1% but traded near the lows last seen in March at the time of triple disaster.
The Nikkei 225 Stock Average rose 1% or 80.88 to 8,616.55 and the broader Topix index added 1.2% or 8.56 to 749.82.
The yen edged lower to 77.85 from 77.55 against one dollar but the euro dropped to a 10-year low to 105.25 after trading at 103.90 on Monday.
Trading volume on the First Section on the Tokyo Stock Exchange decreased to 1.68 billion shares, lower than 1.69 billion shares on Monday. Declining issues were 1,225 and rising stocks were 333 in Tokyo trading.
Stock Movers
Nintendo Co dropped 5.1% to 12,320 yen after investors sold shares ahead of the gathering on its 3DS handheld devices today. At the conference the company released several new software and games to support the declining sales.
Stocks of competitors declined following the slide in Nintendo stock. Capcom fell 8.3% to 1,974 yen and Square Enix dropped 3.9% to 1,468 yen.
Elpida Memory soared 13% to 557 yen on the rising DRAM prices and Advantest Corp fell 36 yen or 4% to 892 yen. Renesas Electronics rose 23 yen to 477 yen.
Mitsubishi UFJ Financial Group rose 8 yen to 331 yen and Sumitomo Mitsui Financial Group increased 1.2% to 2,105 yen. Mizuho Financial Group added 1 yen to 112 yen.
Inpex Corp increased 1.6% to 490,500 yen and Japan Petroleum Exploration Co increased 2% to 3,010 yen.
Nippon Steel increased 1.4% to 221 yen and JFE Holdings, Inc rose 25 yen to 1,721 yen. Kobe Steel, Ltd added 4 yen to 137 yen.
Toyota Motor increased 0.9% to 2,649 yen and Honda Motor Co. added 1.3% to 2,289 yen and Nissan Motor gained 1 yen to 657 yen.
Toyota said it will construct a new factory in Indonesia.
Suzuki Motor increased 3.6% to 1,538 yen after it announced its decision to terminate its cooperation with Volkswagen AG. The two companies entered into a cooperation agreement after VW took 20% stake in the company to gain access to fast growing market in India.
However, two companies could not find projects to collaborate and the tensions rose after Suzuki decided to work with Fiat for a small engine.
Sony Corp fell 7 yen to 1,497 yen, Panasonic Corp fell 12 yen to 740 yen and Canon Inc increased 0.7% to 3,435 yen.
Fanuc rebounded 2.3% after falling for three days in a row to 10,610 yen. Kyocera added 3.4% to 6,740 yen.
Construction equipment makers liked to China closed lower. Komatsu added 2.7% to 1,799 yen and Hitachi Construction Machinery Co gained 2.8% to 1,340 yen.
Shipping companies closed higher. Nippon Yusen KK added 1.8% to 225 yen and Mitsui O.S.K. Lines Ltd added 14 yen to 326 yen. Kawasaki Kisen Kaisha Ltd added 6 yen to 183 yen.
