Japan shares inch higher on tech gains; virus fears weigh

  • Reuters
  • Stock Market News
Japan shares inch higher on tech gains; virus fears weigh
Credit: © Reuters.

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. 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. 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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