Nikkei rebounds as tech-related shares gain

  • Reuters
  • Stock Market News
Nikkei rebounds as tech-related shares gain
Credit: © Reuters.

TOKYO, July 9 (Reuters) - Japan's Nikkei share average bounced back on Thursday, powered by technology-related stocks following strong gains in U.S. peers overnight.

The benchmark Nikkei share average .N225 rose 0.21% to 22,486.01 by the midday break, partially clawing back from a 0.78% drop in the previous session.

On the Nikkei index, there were 42 advancers against 178 decliners.

Investor sentiment, however, remained fragile over rising coronavirus cases at home and abroad.

The market showed little reaction to data that Japan's machinery orders unexpectedly rose 1.7% in May after a 12.0% slump in April due to the pandemic. technology-related stocks advanced after the Nasdaq marked its fourth record closing high in five days on Wednesday.

Tech conglomerate and Nikkei heavyweight SoftBank Group Corp 9984.T jumped 4.67%, lifting information and communication .ICOMS.T to the top performing sector on the main bourse at 1.69%.

Pharmaceutical company Eisai Co Ltd 4523.T climbed 3.87% after the company and its partner Biogen BIIB.O submitted a marketing application to the U.S. drug regulator for their Alzheimer's drug. house Itochu Corp 8001.T inched down 0.09% after it announced a tender offer for the rest of FamilyMart Co Ltd 8028.T .

FamilyMart, expected to be delisted if the bid is successful, was untraded by the midday break with a glut of buy orders. broader Topix .TOPX fell 0.3% to 1,552.61 by the recess, with all but six of the 33 sector sub-indexes on the Tokyo exchange trading in negative territory.

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