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    N225   JP9010C00002

NIKKEI 225

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Japanese shares extend gains on recovery hopes, upbeat earnings

02/08/2021 | 09:38pm EDT

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 session running.

"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 rollout.

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 accelerated.

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 1.0%.

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 cars.

Leading gains on Nikkei, SoftBank Group Corp rose 3.96%, Inpex Corp gained 3.15% and Nomura Holdings Inc jumped 3.09%.

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)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANA HOLDINGS INC. -2.32% 2689 End-of-day quote.18.09%
BANDAI NAMCO HOLDINGS INC. -2.53% 8566 End-of-day quote.-4.03%
BITCOIN (BTC/EUR) 1.70% 54611.65 Real-time Quote.127.46%
BITCOIN (BTC/USD) 1.88% 63579.82 Real-time Quote.116.02%
INPEX CORPORATION -0.62% 963 End-of-day quote.73.20%
ISUZU MOTORS LIMITED -4.34% 1500 End-of-day quote.53.06%
JAPAN AIRLINES CO., LTD. -1.83% 2471 End-of-day quote.23.86%
MAZDA MOTOR CORPORATION -0.75% 1053 End-of-day quote.52.17%
MONEX GROUP, INC. -0.51% 776 End-of-day quote.101.04%
NIKKEI 225 0.34% 28804.85 Real-time Quote.4.61%
NISSAN MOTOR CO., LTD. -1.41% 595.5 End-of-day quote.6.34%
NOMURA CO., LTD. -1.17% 1102 End-of-day quote.29.34%
NOMURA HOLDINGS, INC. -1.17% 563.6 End-of-day quote.3.41%
SOFTBANK GROUP CORP. -2.06% 6574 End-of-day quote.-18.42%
TAIYO HOLDINGS CO., LTD. -1.03% 2783 End-of-day quote.-8.90%
TAIYO YUDEN CO., LTD. -0.72% 5550 End-of-day quote.14.79%
TESLA, INC. 3.26% 894 Delayed Quote.26.69%
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