Nikkei up nearly 3% on eased China worries, bargain hunting

Japan's benchmark Nikkei 225 Stock Average jumped nearly 3 per cent Thursday for the first rise in four trading days as concerns about China's credit crunch eased and as investors picked up cheaper shares after recent losses, dpa reported. The Nikkei gained 379.54 points, or 2.96 per cent, to end at 13,213.55 after falling 1.04 per cent Wednesday. The broader-based Topix index was up 29.55 points, or 2.76 per cent, at 1,098.83 after losing 0.87 per cent Wednesday. By mid-afternoon, China's Shanghai Composite Index had climbed 0.15 per cent. On currency markets at 3 pm (0600 GMT), the dollar traded at 97.82-83 yen, up from Wednesday's 5 pm quote of 97.57-59 yen. The euro was quoted at 127.46-49 yen, down from 127.56-60 yen late Wednesday, and at 1.3033-3034 dollars, down from 1.3073-3075 dollars.