March 8, 2018 / 6:49 AM / a year ago

Nikkei bounces back but pares gains on U.S. tariff caution

TOKYO, March 8 (Reuters) - Japanese shares bounced back on Thursday on hopes the impending U.S. tariffs on steel and aluminium will be milder than previously thought, but the market pared gains as caution ruled ahead of the formal announcement from Washington.

The Nikkei average ended 0.54 percent higher at 21,368, after rising as much as 1.11 percent earlier in the day. The broader Topix gained 0.35 percent to 1,705, though turnover was the lowest in almost two weeks.

Investors picked up growth shares such as Nintendo, which rose 4.1 percent, and Murata Manufacturing, which gained 2.5 percent.

The Topix Growth Index rose 0.56 percent, outperforming value shares, which rose just 0.14 percent. Trading house were among biggest losers, with Mitsubishi Corp falling 0.9 percent and Mitsui & Co down 0.4 percent.

Japan's revised GDP data showed the economy grew an annualised 1.6 percent, more than the initial estimate of 0.5 percent, in the last quarter of 2017, due to an upward revision of capital expenditure and inventory. (Reporting by Tokyo Markets Team; Editing by Subhranshu Sahu)

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