Nikkei reverses morning session losses

<p>The Nikkei was broadly flat at the midday mark.</p>

The Nikkei closed the morning session 0.1 per cent down today (April 16th) after the index rebounded from a two per cent drop.

It fell to 13,268.52, a slight fall that was supported by renewed weakness in the yen, reports Reuters.

Speaking to the news provider, Kenichi Hirano, a strategist at Tachibana Securities, explained it can be hard to tell for analysts which comes first, but the Nikkei rebounds as the yen softens in the forex market.

"Some exporters and (the index heavyweight) Fast Retailing are leading the gains," he said.

Fast Retailing rose by more than two per cent, while SoftBank Corp was down 6.7 per cent. The Topix index dropped 0.8 per cent to 1,124.80 at the midday break after ending morning trade at 1,113.16.

Worse than expected economic data coming out of China led to the Nikkei losing 1.6 per cent of its value yesterday.

Analysts expected Chinese growth to be eight per cent in Q1, but it was recorded at 7.7 per cent.

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