TOKYO, April 15 (Reuters) - Japanese shares inched higher on Thursday as investors picked up cyclical firms that would benefit from a global economic rebound, while financials tracked an overnight rise in Goldman Sachs and Wells Fargo (NYSE: WFC ) & Co stocks.
"There are concerns about the economic slowdown in Japan due to a resurgence of the virus, but investors are looking at the economic sensitive stocks that would benefit from foreign demand," said Norihiro Fujito, chief investment strategist, Mitsubishi UFJ Morgan Stanley (NYSE: MS ) Securities.
"Particularly foreign trades are expected to be active and that is boosting shipping firms."
The Topix subindex for shippers .ISHIP.T gained most among the 33 sector sub-indexes on the Tokyo exchange, with Nippon Yusen 9101.T jumping 5.7%, Mitsui OSK Lines 9104.T rising 3.17% and Kawasaki Kisen 9107.T climbing 4.4%.
Financial shares rose after Goldman Sachs Group Inc (NYSE: GS ) GS.N and Wells Fargo & Co WFC.N advanced on bumper first-quarter profits. UFJ Financial Group 8306.T rose 2.11%, Sumitomo Mitsui Financial Group 8316.T gained 2.16% and Nomura Holdings 8604.T advanced 2.05%.
Toshiba Corp 6502.T rose 1.65%, following reports that the conglomerate is seeing more bidders to take it private. & i Holdings Co 3382.T , up 4.89 %, gained the most among the top 30 core Topix names, followed by Sumitomo Mitsui Financial Group.
There were 181 advancers on the Nikkei index against 41 decliners.
All but three of the 33 sector sub-indexes on the Tokyo exchange traded higher. (Reporing by Junko Fujita; Editing by Shailesh Kuber)
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