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Short-covering in post-quake losers lifts Nikkei on thin volume

Published 04/07/2011, 02:09 AM
Updated 04/07/2011, 02:16 AM
JP225
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TOKYO, April 7 (Reuters) - Short-covering in energy and domestic-demand stocks gave the Nikkei a gentle nudge higher after two days of declines on Thursday, but trade thinned out with investors jittery ahead of earnings announcements.

Market players said the market is poised for a gradual slide over the next few months as some firms enter the first earnings season since last month's quake unwilling to give forecasts for this financial year amid power shortages, lost production and little progress by Tokyo Electric in bringing its crippled nuclear plant under control.[ID:nL3E7F7015]

Japan's benchmark Nikkei average closed up 0.1 percent, or 6.56 points, at 9,590.93 on Thursday, while the broader Topix gained 0.2 percent to 841.10.

(Reporting by Anotni Slodkowski; Editing by Joseph Radford)

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