Japan Nikkei surges 1%

The Japan share market finished session higher on Friday, 31 January 2020, as investors chased for bargain buying on tracking a solid lead from Wall Street overnight after Thursday's World Health Organization emergency meeting eased heightened concerns over the new coronavirus. The majority of industry categories rose into positive territory, with marine transportation, mining and security-oriented issues being notable gainers. At closing bell, the 225-issue Nikkei Stock Average advanced 227.43 points, or 1%, to 23,205.18, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange added 9.67 points, or 0.58%, at 1,684.44.

Drugmaker Chugai Pharmaceutical Co. surged thanks to strong earnings. Fujitsu rose after the electronics maker announced better-than-expected earnings and a share buyback plan. Among other major winners were clothing store chain Fast Retailing Co. and air conditioner-maker Daikin Industries.

 

By contrast, Nintendo Co. met with selling after the game-maker released worse-than-expected earnings for April-December. Technology firm Kyocera Corp. fell after revising down its consolidated operating profit forecast for the year to March. Also on the negative side were auto parts maker Denso Corp. and technology investor Softbank Group Corp.

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