Japan Stock Market Recovers Helped by Lower Yen against Dollar

Japan stock market has recovered on March 28 helped in part by a lower yen against the dollar.

Nikkei 225 index finished up 0.77% to 17,134.37.

Shares in troubled Japanese electronics giant Sharp rose as much as 8% in early trade on hopes of a bailout deal.

The Nikkei business daily newspaper reported that a deal for Sharp may finally be signed this week.

Sharp has been in talks with Taiwan’s Foxconn, formally known as Hon Hai Precision Industry Co.

However, the deal will be smaller than originally planned, reports said.

Sharp’s shares finished the Easter Monday session up almost 5%.

In China, the Shanghai Composite spent much of the day in positive territory.

Data released on the weekend showed industrial profits returned to growth during January and February, which gave a boost to manufacturing shares.

However, by late afternoon, the index had lost ground and was down 0.33% to 2,968.9.

South Korea’s benchmark Kospi index finished the session flat at 1,982.54.

Markets in Hong Kong and Australia reopen on March 29 after the Easter holidays.