TOKYO, June 15 (Reuters) - Japanese shares rallied on
Tuesday, with the broad Topix index hitting a two-month high, as
property shares extended their gains while technology and
growth-oriented firms enjoyed a boost from strong gains in the
As of 0045 GMT, the Nikkei was up 0.88% at 29,419.36, having
hit its highest level since early May while the broader Topix
rose 0.54% to 1,970.42, reaching its highest levels
since early April.
While investors focus on the U.S. Federal Reserve's two-day
policy meeting due to begin later in the day, hopes of global
trade recovery and economic reopenings at home underpinned
Real estate firms were among the best performers
with gains of 1.6% as they continued to benefit from hopes of
economic reopenings as vaccine roll-outs accelerate.
Sumitomo Realty & Development rose 3.4%, having
risen almost 20% over the past month. Mitsubishi Estate
gained 2.2% and Mitsui Fudosan added 1.6%.
Growth shares led the gains after Nasdaq shares outperformed
on Wall Street, with Topix Growth Index rising 0.8%,
compared with 0.3% gains in value shares.
Among them, precision machine maker Olympus rose
2.8%, while drugmaker Eisai gained 2.6%. Robot maker
Fanuc added 2.5%.
Takeda Pharmaceutical, which is handling supply of
Novavax's vaccine in Japan, rose 1.5% after clinical
tests showed the U.S. firm's COVID-19 vaccine as having 90%
Mitsui High-tec jumped 4% after a 16% rise in the
previous day following surprisingly strong earnings results.
On the other hand, Park 24 plunged 12.8% after the
operator of parking spaces announced a surprise downgrade in
earnings guidance, forecasting an annual loss.
(Reporting by Hideyuki Sano; Editing by Shailesh Kuber)