Tokyo stocks rebound Wednesday

Tokyo stocks rebounded for the first time in four trading days on Wednesday, with the Nikkei Stock Average widening its gains toward the end of the afternoon session to 66.50 points, or 0.77%, to close the day at 8,730.49. Investors avoided exporters in favor of shares of high-earning firms that are linked to domestic demand factors, in line with uncertain external conditions such as the European sovereign debt crisis, (Nikkei) reported on its website. Small- and mid-cap stocks tied to rebuilding projects in areas hit by the Great East Japan Earthquake rose sharply. More than 70% of all stocks listed on the first section of the Tokyo Stock Exchange advanced throughout the day. Gains in Asian markets also supported sentiment in Tokyo, pushing up banking stocks in the afternoon. However, investors remained cautious ahead of an EU summit meeting scheduled to start on Thursday. The trading value on the first section of the TSE reached approximately 902.9 billion yen on a preliminary basis, below 1 trillion yen. (QNA)