14 June 2006, 12:10  Tokyo shares close higher as bargain hunters step in following steep falls

Share prices rebounded as investors stepped back into the market to pick up bargains after the Nikkei 225 index yesterday posted its biggest single-day points loss in more than four years, dealers said. Despite today's bounce back, they noted that investors were unwilling to push the market's upside strongly amidst ongoing fears over rising interest rates and signs of a slowdown in economic growth in the US. The Nikkei 225 Stock Average closed up 90.96 points or 0.6 pct at 14,309.56 after moving between 14,045.53-14,458.82. Yesterday, the blue-chip marker fell 614.41 points, its biggest one-day fall since Sept 12, 2001. The broader TOPIX index of all first-section issues rose a more modest 7.84 points or 0.5 pct to 1,466.14, after moving between 1,439.00 and 1,475.82. Gainers beat losers 1,085 to 516, with 95 issues unchanged. Volume rose to 2.19 bln shares from 1.97 bln yesterday.

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