TOKYO, Oct 21 (Reuters) - Japanese shares on Wednesday recovered from losses in the previous session as optimism that U.S. lawmakers could reach an agreement on a pre-election stimulus package lifted riskier assets.
The benchmark Nikkei share average .N225 rose 0.47% to 23,676.90 by the midday break, erasing all of Tuesday's losses with 197 advancers on the index against 23 decliners. The broader Topix .TOPX gained 0.89% to 1,640.16.
With just two weeks until the U.S. presidential election, lawmakers moved closer to agreement on a new coronavirus relief package as President Donald Trump said he was willing to accept a large aid bill despite opposition from his own Republican Party. news helped Wall Street finish higher overnight and buoyed sentiment in Asia. MKTS/GLOB
Among the top gainers in Japan, Shimachu 8184.T soared around 13% after furniture retailer Nitori Holdings 9843.T said it may bid for the home improvement retailer, threatening a tender offer for the company by its bigger rival DCM Holdings Co 3050.T . and DCM were down 0.18% and 6.54%, respectively.
Shares of ANA Holdings 9202.T reversed course to trade down 0.13% after Kyodo News reported the coronavirus-battered airline operator is expected to suffer a net loss of 530 billion yen ($5 billion) for the fiscal year ending in March. Bio Inc 4974.T jumped 6.51% after the Japanese biotechnology company lifted its net profit forecast for the six months ended Sept. 30. Corp 7419.T gained 6.49% after upgrading its net profit outlook for the fiscal year ending in March. Mothers Index .MTHR of start-up firm shares gained 1.25%.
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