Wednesday December 3, 02:25 AM
Nikkei pares gains on strong yen, automakers down
TOKYO, Dec 3 (Reuters) - Japan's Nikkei (news) average rose 1
percent on Wednesday after tumbling to a nearly two-week low the
day before, with a strong yen weighing on exporters such as Sony (Xetra: 853687 - news)
Corp that had initially been boosted by bargain hunting.
Automakers suffered, with Honda Motor Co (Stuttgart: 853226 - news) down 5.5
percent in the face of a sharp drop in U.S. sales and a report by
the Nikkei business daily that it is scaling back its overseas
expansion plans.
The benchmark Nikkei gained 77.29 points to 7,940.98,
having earlier edged above 8,000 after tumbling 6.4 percent on
Tuesday. The broader Topix rose 0.8 percent to 793.00.
(Reporting by Elaine Lies)
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