Nikkei up on short-covering by hedge funds, foreigners

Reuters – Tokyo shares on Tuesday snapped a three-day losing streak in which the market slid 3 percent, as
hedge funds covered short positions and as foreigners bought back on cheap valuations, a factor that, some say, may support the market in coming weeks.

Japan’s benchmark Nikkei average closed up 0.7 percent at 9,442.95 on Tuesday, while the broader Topix gained 0.7 percent to 813.76.

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