TOKYO, Aug 17 (Reuters) - Japan's Nikkei on Wednesday
crossed the 29,000-level for the first time in more than seven
months as Wall Street's major indexes rallied overnight after
U.S. retailers' robust earnings.
The Nikkei share average rose 0.81% to 29,101.33 by
the midday break, after rising to 29,153.05, its highest level
since Jan. 6.
The broader Topix advanced 0.78% to 1,997.35.
The Dow and S&P 500 rose on Tuesday as
stronger-than-expected results and outlooks from Walmart
and Home Depot bolstered views on the health of
consumers, while technology shares declined and weighed on the
"Strong U.S. equities lifted investor sentiment. Investors
responded the upbeat earnings of U.S. retailers," said
Takatoshi Itoshima, strategist at Pictet Asset Management Japan.
Uniqlo clothing store owner Fast Retailing jumped
2.39% and was the biggest boost for the Nikkei, followed by a
medical equipment maker Olympus, which rose 2.69%, and
staffing agency Recruit Holdings climbing 2.11%.
Tokyo Electric Power Holdings added 3.86% on
expectations of a restart of nuclear power plants after a report
said the nuclear authority approved the utility to set up
anti-terrorism facilities at one of its nuclear plants a market
In technology heavyweights, chip-making equipment maker
Tokyo Electron fell 0.8% and weighed on the Nikkei the
most. Robot maker Fanuc slipped 0.73%.
There were 183 advancers on the Nikkei index against 37
The volume of shares traded on the Tokyo Stock Exchange's
main board was 0.6 billion, compared to the average of 1.16
billion in the past 30 days.
(Reporting by Junko Fujita, additional reporting by Tokyo
markets team; editing by Uttaresh.V)