Nikkei at 1-1/2-week high on Wall Street rally, weaker yen

TOKYO, Feb 6 (Reuters) - Japanese shares advanced to their
highest in 1-1/2 weeks on Thursday after U.S. benchmark S&P 500
hit a record high on encouraging economic data, while investors
still kept a cautious eye on the impact from the coronavirus
outbreak.
The benchmark Nikkei average .N225 advanced 2% to
23,784.86 in late-morning trade, on track to post the biggest
daily rise in a month, while the broader Topix .TOPX added
1.9% to 1,733.45. Both indexes were at their highest since Jan.
24.
All of the 33 sector subindexes on the Tokyo Stock Exchange
were in positive territory, led by cyclical sectors, with oil
and coal products .IPETE.T , paper and pulp .IPAPR.T and
mining .MING.T becoming the top three performing subindexes.
On Wall Street, the S&P 500 .SPX climbed 1.1% to a record
close and the Nasdaq Composite .IXIC added 0.4% to an all-time
peak, while the Dow .DJI advanced 1.7%, following upbeat ADP's
private sector jobs report and ISM's non-manufacturing index.
.N The greenback hit a two-week high of 109.91 yen JPY=EBS in
early Asian trade, providing a tailwind for Japanese exporters,
as a weaker local currency boosts corporate profits when they
are repatriated.
With earnings season in full swing in Japan, Pan Pacific
International Holdings Corp 7532.T soared 18.4% after the
discounter Don Quijote's parent raised its operating profit
forecast for the year ending June.
Z Holdings Corp 4689.T jumped 8.6% after internet services
firm reported a net profit of 75.1 billion yen ($685 million)
for the April-Dec period, up 7% from a year earlier, due to its
consolidated subsidiary of ZoZo. Bucking the overall firmness, DeNA Co Ltd 2432.T dived
8.9% after the mobile partner of Nintendo booked a 49.4 billion
yen writedown as its gaming business falters in Japan's
saturated mobile market. Although the financial markets found some comfort, traders
admitted concerns about the coronavirus outbreak and its broader
economic and market impact still linger.
The death toll from a new coronavirus in mainland China
jumped by 73 to 563 on Thursday as experts intensified efforts
to find a vaccine for a disease that has shut down Chinese
cities and forced thousands more into quarantine around the
world. Infections stand at 28,018. Drugmakers and the World Health Organization played down
reports about progress towards finding treatments, which had
boosted traders' confidence. ($1 = 109.8300 yen)