Japan stocks rebound modestly; blue chips strong

LOS ANGELES (MarketWatch) -- Japanese stocks rose in a choppy Monday open, as select shares rebounded off of heavy losses in the previous week, and defensive retail-stock plays outperformed. Despite negative leads from the U.S. and Europe Friday, Japan's globally traded blue chips outpaced the market, with the Nikkei Stock Average rising 0.4% to 8,645.04, beating a 0.2% gain for the broader Topix. Amid a modest rebound in the euro to above 101 yen, companies with strong European exposure were among the gainers, including a 0.6% rise for Sony Corp. and a 1% advance for Mazda Motor Corp. . Other major names on the march higher included NEC Corp. , up 1.7%, and Fujitsu Ltd. , ahead by 1.4%. Among the techs, Renesas Electronics Corp. was a major loser, trading down 4%. Meanwhile, retailers were broadly stronger, with Fast Retailing Co. up 1.7%, and Takashimaya Co. gaining 0.9%.

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