Japan's Nikkei ends higher as investors pick beaten down shares after retreat

TOKYO, Jan 19 (Reuters) - Japanese shares closed higher on
Tuesday after declining for two consecutive sessions, as
investors scooped up beaten-down stocks, with automakers and
semiconductor-related plays leading the rebound.
The Nikkei 225 Index .N225 ended 1.39% higher at
28,633.46, while the broader Topix .TOPX inched up 0.56% to
1,855.84.
"Investors are buying back shares which were sold out of
concerns for overheat yesterday," said Hideyuki Suzuki, general
manager at investment research for SBI Securities Suzuki.
"Today's (Tuesday) rise represents the fundamental strength
of the Japanese market. It is moving on its own without being
influenced by the U.S. market, which was closed yesterday."
Sentiment was also buoyed after Chinese data released on
Monday raised hopes that strength in the world's second-largest
economy would underpin growth in the region. China's economic recovery beat analysts' expectations in the
fourth quarter, expanding 6.5% from a year earlier, data from
the National Bureau of Statistics showed. In Japan, chip-related shares advanced, with Rohm Co
6963.T jumping 4.51% after Nomura Securities raised its target
price.
TDK 6762.T rose 2.76%, Tokyo Electron 8035.T gained
2.11%, and Advantest 6857.T climbed 4.22%.
Automakers also advanced, with Mazda Motor 7261.T jumping
5.5%, Nissan Motor 7201.T rising 3.91% and Suzuki Motor
7269.T gaining 3.89%. Toyota edged up 0.94% and Honda Motor
7267.T added 1.69%.
Fast Retailing 9983.T rose 3.06% after a report said that
the operator of Uniqlo clothing chain would add a payment
function to its smartphone app.
The stocks that gained the most among the top 30 core Topix
names were SoftBank Group Corp 9984.T , which rose 3%, followed
by Hitachi Ltd 6501.T , rising 2.6%.
The underperformers among the Topix 30 were Hoya Corp
7741.T , which fell 1.94%, followed by Seven & i Holdings Co
Ltd 3382.T losing 1.60%.

(Editing by Uttaresh.V)