Nikkei edges up as defensives rise
TOKYO (Reuters) – Japan's Nikkei stock average edged up 0.9 percent on Wednesday, buoyed by defensive shares such as Takeda Pharmaceutical (4502.T), while Mitsubishi UFJ Financial Group (8306.T) slipped after reporting a quarterly loss.
Japan's economy shrank 4.0 percent in the first quarter, the biggest contraction on record, but economists see a return to modest growth in coming quarters for the world's No. 2 economy.
The benchmark Nikkei (.N225) gained 79.85 points to 9,370.14, while the broader Topix (.TOPX) rose 0.9 percent to 887.74.
(Reporting by Elaine Lies)
Nikkei edges up as defensives rise
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