Tokyo Shares Recover

Dec 07 03:12 2017 Print This Article

Tokyo stocks rallied on Thursday after three days of losses, leading a cautious recovery in Asian markets with technology firms seeing some much-needed buying.

However, while traders managed to staunch the recent sell-off across the region several issues continue to dog sentiment, the latest being the repercussions of Donald Trump’s recognition of Jerusalem as Israel’s capital.

Asian markets plunged on Wednesday led by tech firms as investors cashed out following a year-long surge in the sector, while energy firms were also hit by worries about commodities demand.

However, strong gains in big name firms including Amazon, Facebook and Google parent Alphabet provided some buying impetus for the sector in Asia.

Tencent jumped 1.7 percent and Sony rose 0.6 percent while Samsung was 0.5 percent higher, although ongoing worries about further selling kept a cap on gains. But energy firms, which also dived Wednesday, suffered again after a plunge in oil prices overnight fuelled by disappointing US stockpiles data.

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