TOKYO , Jan. 8 -- ( Kyodo ) _ (EDS: ADDING INFO) Tokyo stocks rose Wednesday morning, with the Nikkei climbing above the 16,000 threshold temporarily, as an overnight rebound on Wall Street and the yen's depreciation encouraged investors to scoop up recent major decliners. The 225-issue Nikkei Stock Average rose 163.97 points, or 1.04 percent, from Tuesday to finish the morning session at 15,978.34. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 10.68 points, or 0.83 percent, to 1,293.93. The Tokyo market got off to a solid start after U.S. stocks ended Tuesday higher on data showing a sharp decline in the country's trade deficit for November. The U.S. dollar's rise to the upper 104 yen range from the lower 104 yen level the previous day also fanned optimism over the outlook for Japanese export-linked companies' earnings, boosting shares of such companies as automakers. A weaker yen expands exporters' dollar earnings overseas when repatriated. Brokers said there had been worries about market overheating following the Nikkei's 7.5 percent surge in the final nine trading days of 2013 to a fresh six-year high, but such concerns eased after the index fell about 3 percent over the past two days. "There appears to be an emerging mood to buy on dips," said Hiroichi Nishi , assistant general manager of equity research at SMBC Nikko Securities Inc. On the First Section, advancing issues outnumbered declining ones 1,262 to 373, while 139 finished the morning unchanged. By sector, shares of metal, machinery and rubber companies drew buying in particular, while food, steel and fishery and agriculture shares lost ground. Seven & I Holdings climbed 205 yen or 4.9 percent to 4,430 yen after the retailer said it racked up a record net profit of 128 billion yen in the March-November period, up 32 percent from a year earlier. Among export-oriented companies, Nissan Motor gained 37 yen or 4.1 percent to 933 yen and Honda Motor added 20 yen or 0.5 percent to 4,250 yen . Hitachi , Toshiba and Sharp all rose more than 2 percent. In contrast, Mitsubishi Motors tumbled 47 yen or 4.2 percent to 1,084 yen after the company's announcement that it will raise up to 241.6 billion yen through a public offering sparked worries over share dilution.
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