Japan Stock Market Closes Higher for First Time in Four Days

Japan stock market closed higher for the first time in four days, spurred by a rally on Wall Street.

US shares snapped a two-day losing streak overnight, rebounding from Tuesday’s steep losses as the S&P 500 and Dow Jones rose nearly 2%.

An upward revision in US productivity data ahead of the jobs report on September 4 boosted sentiment among investors rattled by slowing growth in China.

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Japan’s Nikkei 225 index closed up 0.5% to 18,182.39 – leading Asian gains.

Chinese markets are closed on September 3 and 4 for a holiday to commemorate the end of World War II.

In Australia, the S&P/ASX 200 index ended down 1.3% at 5,035.70. Shares in department store operator Myer Holdings dived 24% after it announced plans to raise 221 million Australian dollars ($154 million) through a rights issue.

In South Korea, shares closed flat after revised second quarter growth figures came out in line with earlier estimates released in July.

The country’s economy grew a seasonally-adjusted 0.3% from April to June from the previous three-month period, while it expanded 2.2% from a year earlier.

South Korea’s benchmark Kospi index finished at 1,915.53.