TOKYO, Feb 9 (Reuters) - Japanese shares extended gains to
hit a fresh 30-year high on Tuesday as strong corporate earnings
and progress in vaccine rollouts fuelled expectations for a
quick normalisation of the global economy.
The Nikkei share average edged up 0.31% to 29,478.32
by 0147 GMT, while the broader Topix index was 0.01%
higher at 1924.29. Both indexes were set to gain for a third
"Market participants have shifted their targets to shares
that would benefit in the post-coronavirus era from those driven
by the pandemic," said Hideyuki Suzuki, general manager of
investment research at SBI Securities.
"The number of daily infection cases has been falling
globally and vaccine distribution has started in countries which
were hit the hardest. That's what the market is looking at now."
Wall Street reached all-time closing highs overnight, buoyed
by prospects for increased stimulus and an accelerated vaccine
In Japan, SoftBank Group rose more than 5% to hit a
two-decade high earlier in the session, after its Vision Fund
unit reported record profits as portfolio company listings
The airline sector gained, with Japan Airlines and
ANA Holdings rising 3.55% and 1.7%, respectively.
Isuzu Motor rose 2.09% after the automaker raised
its annual profit forecast, while Nissan Motor gained
Monex Group, owner of bitcoin exchange operator
Coincheck, surged 11.08% as bitcoin jumped after Tesla Inc
revealed it had bought $1.5 billion of the
cryptocurrency and would soon accept it as a form of payment for
Leading gains on Nikkei, SoftBank Group Corp rose
3.96%, Inpex Corp gained 3.15% and Nomura Holdings Inc
The biggest percentage decliners were Bandai Namco Holdings
Inc, down 7.07%, Taiyo Yuden, which lost
6.47%, and Mazda Motor, down by 5.49%.
(Reporting by Junko Fujita; Editing by Devika Syamnath)