March 13, 2018 / 6:40 AM / 9 days ago

Nikkei rises for 4th day, weak yen triggers futures buying

TOKYO, March 13 (Reuters) - Japanese shares rose for a fourth day on Tuesday in choppy trade as a weak yen triggered buying in futures, offsetting weakness in steelmakers and automakers still battered by concerns about U.S. tariffs on imported steel and aluminium.

The Nikkei average gained 0.7 percent to 21,968.10 while the broader Topix added 0.6 percent to 1,751.03.

Tuesday’s winners included defensive names and domestic-demand sensitive stocks such as utility shares, food processors and drugmakers. Tokyo Gas surged 2.5 percent, Ajinomoto advanced 1.4 percent and Eisai soared 2.1 percent.

Steelmakers fell 0.3 percent, while transport equipment makers lost 0.04 percent, underperforming the overall market since the U.S. tariffs were announced on March 1. (Reporting by Hideyuki Sano and Ayai Tomisawa; Editing by Sam Holmes)

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