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Japan shares inch higher on tech gains; virus fears weigh

Published 11/26/2020, 11:15 AM
Updated 11/26/2020, 11:20 AM

TOKYO, Nov 26 (Reuters) - Japanese shares edged higher on
Thursday, as tech shares tracked overnight gains on the Nasdaq,
although worries over latest coronavirus restrictions at home
hindering economic recovery capped gains.
The Nikkei share average .N225 rose 0.66% to 26,470.28 by
the midday break, with 94 advancers on the index against 129
decliners.
The broader Topix .TOPX added 0.45% to 1,775.55.
The market opened on a weak note, but quickly reversed
course as tech-related shares advanced and investors snapped up
bargains, supported by the Nasdaq closing 0.47% higher
overnight.
Among gainers of the top 30 core Topix names was Nikkei's
heavyweight SoftBank Group Corp 9984.T , jumping 3.22%.
Other tech shares followed suit, with Nintendo 7974.T
climbing 3.12% and Tokyo Electron 8035.T adding more than 2%.
As part of Japan's latest measures to rein in its highest
surge in COVID-19 infections yet, Tokyo on Wednesday urged
restaurants and bars to shorten their operating hours until
mid-December and residents to stay indoors as much as possible.

Economy Minister Yasutoshi Nishimura said medical resources
in parts of Japan are becoming strained and the next three weeks
would be critical to stopping the spread of infections.
The largest percentage gainers in the index were Furukawa
Electric Co Ltd 5801.T , up 4.71%, followed by Z Holdings Corp
4689.T gaining 4.58 % and Olympus Corp 7733.T , which rose
4.24%.
Elsewhere, the Mothers Index .MTHR of startup firm shares
traded nearly flat by the recess, having dropped 2.1% in the
previous session.

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