TOKYO, Sept 29 (Reuters) - Japan's Nikkei share average
rose on Thursday, rebounding from a near three-month low touched
in the previous session, tracking Wall Street's sharp gains
overnight that was driven by falling Treasury yields.
The Nikkei gained 0.25% to 26,238.32, by the midday
break, after rising about 1% earlier, recovering from a July 1
low of 25,936.36 hit on Wednesday.
The broader Topix inched down 0.08% to 1,853.63.
"The main driver for the Nikkei's gain was an advance of Wall
Street overnight, which was fuelled by the Bank of England's
action," said Chihiro Ohta, assistant general manager at the
investment research and investor services at SMBC Nikko
Wall Street ended sharply higher overnight following its
recent sell-off, after Treasuries yields fell, as the Bank of
England stepped into the bond market in an attempt to dampen
investor fears of contagion across the financial system.
In Japan, Uniqlo clothing shop owner Fast Retailing
rose 1.63%, becoming the biggest boost to the Nikkei, followed
by technology investor SoftBank Group, rising 1.17%.
Drug makers were the top gainer among the Tokyo
Stock Exchange's industry sub-indexes, rising 2.53%.
Eisai shares were set to hit their daily limit for
a two straight sessions, after the surprise trial success of an
experimental Alzheimer's drug developed by the Japanese drug
maker and a partner Biogen.
Shionogi & Co jumped 4.97%, while Chugai
Pharmaceutical gained 3.3% and Daiichi Sankyo
Online shipping platform Rakuten Group climbing
5.76% and was the top gainer on the Nikkei, followed by
motorcycle maker Yamaha Corp, rising 5.22.
(Reporting y Junko Fujita; Editing by Rashmi Aich)