The Nikkei stock average climbed on Wednesday in a market encouraged by smooth debt sales in Spain and positive housing data in the United States, but gains were capped by resistance at its 25-day moving average.
The Nikkei's rise was less than half of the huge gains in Wall Street shares on Tuesday, and was driven mainly by buybacks in battered shares such as shipmakers and steelmakers.
A lack of a major trading theme led short-term traders to turn their eyes to volatile shares of troubled firms, such as Tokyo Electric Power Co (9501.T) and Olympus Corp (7733.T), the two most active shares on Wednesday. (Reuters)
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