Nikkei rebounds in morning trading

<p>The Nikkei was up two per cent this morning.</p>

The Nikkei has bounced back in its session of morning trading today (March 19th), recording a two per cent rise on the start of the day.

It dropped yesterday as a result of the proposals over a controversial Cyprus bailout but rebounded today and gained 246.55 points to 12,467.18, cancelling out some of the 2.7 per cent losses from Monday's trading.

Kenichi Hirano, market analyst at Tachibana Securities, told Reuters: "On Monday, futures-led selling pushed the Nikkei and Topix down while many smaller, individual stocks, remained intact. So today, some blue-chips that fell yesterday are bouncing back."

Sony was among the biggest movers on the index this morning, with gains of close to five per cent, while other stocks to be up included Mazda Motor Corp – which jumped 4.2 per cent – and Nikon Corp, which rose 3.5 per cent.

Yesterday's slip for the Nikkei came after it reached a new four-and-a-half year high during trading last week.

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