Japan's Nikkei jumps most in over a month as Omicron fear eases
07/12/2021 06:41
By Junko Fujita
TOKYO, Dec 7 (Reuters) - Japan's Nikkei index racked up its
biggest gain in more than a month on Tuesday, as worries over
the impact of the Omicron coronavirus variant eased, aiding
investors to buy bargains, such as SoftBank Group 9984.T and
travel-related stocks.
The Nikkei share average .N225 ended 1.89% higher at
28,455.60, marking its biggest percentage gain since Nov. 1. The
broader Topix .TOPX advanced 2.17% to 1,989.85.
Japan shares also tracked Wall Street higher as investors
cheered some optimistic comments from a top U.S. official on the
latest variant. .N
"We have more details on the Omicron and it seems that
impact would not be that serious. That has given a relief to
investors," said Kazuharu Konishi, head of equities at
Mitsubishi UFJ Kokusai Asset Management.
SoftBank Group 9984.T , the global tech investor that
dragged down the Nikkei in the previous session, jumped 7.94%
and was the biggest percentage gainer on the index.
Shares that would benefit from an economic reopening rose,
with airlines and railway operators leading gains among the
exchange's 33 industry sub-indexes, up 4.17% and 3.06%,
respectively.
Japan Airlines 9201.T rose 4.6% and West Japan Railway
9021.T gained 4.97%.
Travel-related online services Open Door 3926.T surged
7.66% and Airtrip 6191.T also gained 7.66%.
"The markets have been volatile globally. But these
volatilities suggest that the market is moving by bets from
short-term investors," said Shigetoshi Kamada, general manager
at the research department at Tachibana Securities.
There were 218 advancers on the Nikkei index against 6
decliners.
Nippon Suisan Kaisha 1332.T fell 5.6% and was the biggest
loser, followed by Z Holdings 4689.T , losing 2.7% and Konami
Holdings 9766.T , which fell 1.29%.
(Editing by Uttaresh.V)
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