Total 32 issues of the 33 industry category of Topix index advanced into positive territory, with Fishery, Agriculture & Forestry, Insurance, Mining, Nonferrous Metals, Information & Communication, and Warehousing & Harbor Transportation Services issues being notable gainers.
Investor appetite was whetted by China's central bank intervention for the second day to combat the economic impact of a deadly coronavirus that has claimed at least 465 lives and infected more than 20,000 people in China.
The People's Bank of China injected 1.7 trillion yuan ($242.74 billion) via reverse repos on Monday and Tuesday, helping Chinese stocks reverse some losses and lifting the world equity index. The stimulus boosted investor sentiment even as several economists cut forecasts for 2020 global growth as the fast-spreading virus hampers business operations in the world's second largest economy.
Export-oriented issues such as automaker Toyota and construction machinery-maker Komatsu attracted purchases thanks to the yen's drop. Chipmaking gear manufacturers Screen and Tokyo Electron rose along with other stocks in the semiconductor sector after their U.S. peers fared well the previous day.
Sharp Corp climbed 1.7% after the electronics company reported a 38.5% increase in third-quarter operating profit, due to gains at its smart appliance division and cost-reduction efforts.
Mercari Inc jumped 3.9% after the e-commerce start-up announced the company and its subsidiary Merpay agreed to form a business partnership with NTT Docomo to enhance payment services and point programs. NTT Docomo Inc added 2.3%.
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