YEREVAN, September 27. /ARKA/. A sudden reversal in the yen lifted Japanese shares Thursday, while a looming weeklong holiday weighed on stocks in China.

Japan’s Nikkei JP:NIK -0.26% staged an intraday rebound after a knee-jerk weakening of the yen sent exporter stocks higher. Traders cited market speculation surrounding reforms to Japan’s public pensions as the cause for the currency’s sharp move. An advisory panel for Japan’s Government Pension Investment Fund met Thursday and was expected to issue a report well after the market closed.

The dollar USDJPY -0.30% was last changing hands at 98.91 yen, after earlier breaking above ¥99, compared with ¥98.43 late Wednesday in New York. Medical-equipment maker Terumo JP:4543 +0.20% closed 3.4% higher and electronics firm Sharp Corp. JP:6753 +1.11% rose 2.6%.

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Most Asian shares turned around a four-day losing streak and rose on Wednesday as investors took comfort from U.S. data underscoring an American recovery and assurances from China’s central bank that it will offer funds to banks if needed

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