TOKYO, Feb 5 (Reuters) - Japanese shares ended more than 1%
higher on Friday, following Wall Street's rally overnight,
driven by upbeat earnings from domestic firms and expectations
of a large U.S. stimulus package.
Nikkei share average jumped 1.54% to 28,779.19. The
broader Topix gained 1.38% at 1,890.95.
The S&P 500 and Nasdaq posted record closing highs
overnight, as Democrats pushed ahead with U.S. President Joe
Biden's proposed $1.9 trillion stimulus plan without bipartisan
"A bigger economic stimulus package in the U.S. is good for
the global economy and that optimism is lifting
economic-sensitive shares in Japan," said Masahiro Ichikawa,
chief market strategist at Sumitomo Mitsui DS Asset Management.
Japanese automakers jumped, with Mazda Motor
surging 18.52% after cutting its loss forecast, making it the
biggest gainer in the Nikkei index.
Mitsubishi Motor jumped 8.13% and Nissan Motor
NTT Data jumped 9.63% after Nomura Securities
raised its target price on the information network builder's
Railway companies, which are also considered sensitive to
economic news, gained. Central Japan Railway rose 5.14%
and West Japan Railway increased 6.3%.
Takeda Pharmaceutical edged up 0.33% after the drug
maker said its nine-month profit more than doubled from a year
Tokyo Rope surged 10.13% as the steel maker opposed
a bid by Nippon Steel, which is trying to boost its
stake in the smaller affiliate.
Japan Asia Group jumped 8.96% after an activist
fund launched a counter bid for the energy and environment firm,
which has agreed to be bought by Carlyle Group.
(Reporting by Junko Fujita; Editing by Amy Caren Daniel)