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Nikkei rebounds as tech-related shares gain

Published 07/09/2020, 11:46 AM
Updated 07/09/2020, 11:50 AM
© Reuters.
JP225
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BIIB
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TOPX
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4523
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8001
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9984
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8028
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ICOMS.T
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TOKYO, July 9 (Reuters) - Japan's Nikkei share average
bounced back on Thursday, powered by technology-related stocks
following strong gains in U.S. peers overnight.
The benchmark Nikkei share average .N225 rose 0.21% to
22,486.01 by the midday break, partially clawing back from a
0.78% drop in the previous session.
On the Nikkei index, there were 42 advancers against 178
decliners.
Investor sentiment, however, remained fragile over rising
coronavirus cases at home and abroad.
The market showed little reaction to data that Japan's
machinery orders unexpectedly rose 1.7% in May after a 12.0%
slump in April due to the pandemic. Domestic technology-related stocks advanced after the Nasdaq
marked its fourth record closing high in five days on Wednesday.
Tech conglomerate and Nikkei heavyweight SoftBank Group Corp
9984.T jumped 4.67%, lifting information and communication
.ICOMS.T to the top performing sector on the main bourse at
1.69%.
Pharmaceutical company Eisai Co Ltd 4523.T climbed 3.87%
after the company and its partner Biogen BIIB.O submitted a
marketing application to the U.S. drug regulator for their
Alzheimer's drug. Trading house Itochu Corp 8001.T inched down 0.09% after
it announced a tender offer for the rest of FamilyMart Co Ltd
8028.T .
FamilyMart, expected to be delisted if the bid is
successful, was untraded by the midday break with a glut of buy
orders. The broader Topix .TOPX fell 0.3% to 1,552.61 by the
recess, with all but six of the 33 sector sub-indexes on the
Tokyo exchange trading in negative territory.

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