Japan’s Nikkei ends higher, Uniqlo clothing-owner Fast Retailing jumps

Japan’s Nikkei share average ended higher on Tuesday, led by heavyweight Fast Retailing, as investors scooped up beaten-down shares following a global sell-off as the U.S. Federal Reserve reiterated its stance to stay on an aggressive policy path, Reuters reported.

The Nikkei .N225 gained 0.53% to close at 26,571.87, recovering from a two-month low scaled in the previous session. The broader Topix .TOPX rose 0.47% to 1,837.01.

The market has been regaining momentum rapidly after a global sell-off in the wake of the Fed’s policy tightening, said a market participant at a domestic brokerage.

Uniqlo clothing owner Fast Retailing rose 0.88% and was the biggest boost for the Nikkei, followed by staffing agency Recruit Holdings 6098.T, which jumped 2.67%.

On the other hand, chip-making equipment maker Tokyo Electron 8035.T and phone company KDDI Corp 9433.T fell 0.85% and 1.25%, respectively, weighing on the index the most.