December 7, 2017 / 3:16 AM / a year ago

Nikkei rebounds on bargain-hunting, but mining sector weak

TOKYO, Dec 7 (Reuters) - Japan's Nikkei share average rose on Thursday, taking back some ground lost in the previous session as investors sought bargains after the benchmark index skidded its most in 8-1/2 months The Nikkei ended morning trade up 1.27 percent, or 280.70 points, at 22,457.74, following its biggest fall since March the previous day, after it broke key technical support at its 25-day moving average.

Index heavyweight Fast Retailing was up 2.1 percent.

Pharmaceutical shares added 1 percent, while securities shares were up 0.8 percent.

Oil shares edged up 0.3 percent after crude oil futures steadied following an overnight sell-off.

But mining shares slumped 1.9 percent, continuing their weakness as the price of copper wallowed at low levels after dropping more than 4 percent on Tuesday, its biggest daily fall in almost 2-1/2 years.

Shares of Advantest Corp rose 1.1 percent, after Nikkei reported that the chip company's fiscal year operating profit is seen reaching 20 billion yen ($177.87 million).

The broader Topix rose 1.1 percent, or 19.84 points, to 1,785.26, while the JPX-Nikkei Index 400 rose 1.1 percent, or 173.93 points, to 15,816.14.

Reporting by Tokyo markets team; Editing by Jacqueline Wong

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