TOKYO, Nov 5 (Reuters) - Japanese shares ended at a more
than two-year high on Thursday, buoyed by overnight Wall Street
gains, while focus remained on final tally for the U.S.
presidential election after several state results gave a narrow
lead to Democrat Joe Biden and a likelihood of divided Congress.
The benchmark Nikkei share average rose 1.73% to
close at 24,105.28, its highest since Oct. 3, 2018. The broader
Topix gained 1.39% to 1,649.9.
Biden predicted a U.S. election win over President Donald
Trump after pivotal victories in Michigan and Wisconsin, but the
risk of a prolonged contested election remains as Trump's
campaign moved to file lawsuits and request for a recount in
Analysts said stocks were supported by overnight Wall Street
gains as the likelihood of gridlock in Congress made investors
optimistic that major policy changes would be difficult to
Growth shares performed well, taking positive cues from
their U.S. counterparts.
"U.S. growth stocks were buoyed by a drop in U.S. long-term
interest rate as investor wariness eased over massive government
spending. This helped Japanese growth-oriented stocks to track
them higher," said Takashi Hiroki, chief strategist at Monex
The Topix Growth index rose 2.46%, while the Topix
Value index inched 0.26% higher.
Banks and insurers were down 1.03% and
1.44%, respectively, as they were hurt by overnight drops in
U.S. Treasury yields.
Pharmaceutical firm Eisai jumped 17.91% to hit its
daily limit after the company and its partner Biogen Inc
moved closer to receiving the U.S. FDA's nod for their
Subaru Corp rose 0.31%, after the automobile
company raised its operating profit outlook as U.S. vehicle
sales rebounded more than it expected.
Suzuki Motor climbed 4.89% as its profit forecast
was higher than analysts' expectations.
The Mothers Index of start-up firm shares gained
nearly 3.2%, extending its rally from a more than 5% rise.
(Reporting by Eimi Yamamitsu; editing by Uttaresh.V and Rashmi