Nikkei bounces back with 3% rise

<p>The Nikkei ended the day three per cent higher.</p>

The Nikkei has cancelled out some of the losses recorded earlier in the week by bouncing back in today's (June 27th) trading.

It climbed three per cent over the course of the day as fears over the US Federal Reserve bringing its asset purchasing scheme to an end started to ease.

Concerns over the state of the Chinese economic recovery have also lessened and this helped the Nikkei to record its largest daily gain in almost a fortnight, reports Reuters.

But the index will still need further strong advances tomorrow if it is to be able to avoid a fifth weekly loss in the last six weeks, falling away from the five-and-a-half year highs hit in May.

The Nikkei closed the day's trading on 13,213.55, while the broader Topix rose 2.8 per cent to finish up at 1,098.83.

A three per cent gain for the Nikkei puts the index back above the 13,000 mark it has been below for the last two days.

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