TOKYO, July 6 (Reuters) - Japan's Nikkei rose on Tuesday,
helped by a rebound in shares of Daikin Industries, Uniqlo-maker
Fast Retailing and SoftBank Group after steep declines in the
The Nikkei share average was up 0.5% at 28,725.81 by
the midday break, while the broader Topix was also 0.5%
higher at 1,959.34.
Daikin rallied 3.7%, with Fast Retailing
adding 0.8% and SoftBank advancing 1.4%. These three
stocks contributed some three-quarters of the total gain for the
Nikkei because of their weightings.
On Monday, the Nikkei had slid 0.6% even as most other
shares in Asia climbed, after a weekend spike in COVID-19
infections in Tokyo just weeks before the city hosts the
Japan's government looks likely to decide on Thursday to
extend a state of quasi-emergency in Tokyo and three nearby
prefectures beyond an original end-date of July 11.
"It looks like there is some buying back of shares after
yesterday's sell-off," said Masahiro Ichikawa, chief market
strategist at Sumitomo Mitsui DS Asset Management.
But even so, sentiment remains cautious, he said.
"There will soon be a big influx of athletes and media from
around the world for the Olympics, and investors worry there
could be a spike in infections, which is capping any rise in
Hitachi Zozen was the biggest percentage gainer on
the Nikkei, rising 4.5%; while the biggest loser was Mitsubishi
Motors, which suffered a 3.1% decline.
Among sectors, air transport gained the most on
the Topix, adding 3%. Mining was next, up 2.9%,
followed by oil and coal producers, which rose 2.7%.
Pharma companies fell the most, down 0.4%, with
securities firms down 0.3%, followed by a 0.2%
decline for shippers.
(Reporting by Kevin Buckland in Tokyo; Editing by Shailesh