Nikkei rises 0.9 percent but yen weighs

TOKYO (BestGrowthStock) – Japan’s Nikkei average rose 0.9 percent on Wednesday, with investors buying shares on dips after the index hit an eight-month closing low the day before, though rises were limited by the yen’s persistent strength against the dollar.

Nidec Corp, a precision motor manufacturer, jumped nearly 4 percent after it said it would buy the motors business of U.S. firm Emerson Electric Co in a deal the Nikkei newspaper said could be worth up to $820 million, leveraging the yen’s strength to expand abroad via acquisitions.

The benchmark Nikkei gained 78.86 points to 9,240.54. On Tuesday, it finished at its lowest since November 27 last year. The broader Topix rose 1 percent to 835.23.

(Reporting by Aiko Hayashi; Editing by Michael Watson)

Nikkei rises 0.9 percent but yen weighs