Japanese stocks rebounded Thursday, as gains in shipping, steel, auto and consumer finance stocks offset a drop in power company shares in the aftermath of this week's powerful earthquake, REPORTED AP. The Nikkei 225 index rose 100.99 points, or 0.56 percent, to finish at 18,116.57 points on the Tokyo Stock Exchange. The index shed 1.11 percent to 18,015.58 points the previous day. The index got a boost in late trade on a report that consumer finance companies Promise Co. and Sanyo Shinpan Finance Co. are in talks to merge this year. The news sent both companies' share prices soaring, though both issued statements denying that any decision to merge had been reached. Shipping and steel company stocks likewise posted gains, while auto shares climbed despite plans at Toyota Motor Corp. and other major manufacturers to temporarily halt domestic production due to damage at a key parts supplier incurred in Monday's magnitude-6.8 quake. Winners included Toyota, up 1.07 percent to 7,540 yen (US$61.82; ¤44.87), and Nissan Motor Co., which added 0.45 percent to 1,319 yen (US$10.82; ¤7.85). Power company stocks fell on woes at Tokyo Electric Power Co., which has experienced a slew of problems due to the quake at one of its nuclear plants, including a fire and leaks of radioactive material into the ocean. TEPCO shares fell 5.55 percent to 3,400 yen (US$27.88; ¤20.23). The broader Topix index, which includes all shares on the exchange's first section, rose 9.35 points, or 0.53 percent, to 1,768.00 points. In currencies, the U.S. dollar was trading at 121.96 yen at 2:50 p.m. (0550 GMT) Thursday, up from 121.89 yen late Wednesday in New York. The euro fell to US$1.3792 from US$1.3795.
