Nikkei rises on bargain hunting, Ukraine worries limit gains

Foreign investors scoop up battered shares

Japan's Nikkei average clawed higher on Tuesday, snapping four days of losses as some foreign investors scooped up battered shares, although concerns over mounting tensions in Ukraine kept the market on edge.

The Nikkei closed up 0.5% at 14,721.48. After jumping 57% in 2013, the benchmark is down almost 10% in the year to date, making it one of the worst performers in the developed world.

After the cash market close, Nikkei futures rose another 0.8% on reports Russian President Vladimir Putin has ordered troops that took part in military exercises this week to return to base, although Moscow has denied the exercises were linked to events in Ukraine.

The broader Topix index gained 0.6% to 1,204.11 although trade was thin, with volume hitting its lowest level so far this year.

The JPX-Nikkei Index 400, an index launched this year comprising firms with high return on equity and strong corporate governance, rose 0.6% to 10,892.99.