TOKYO, Feb 9 (Reuters) – Japanese shares extended gains to hit a fresh 30-year high on Tuesday as strong corporate earnings and progress in vaccine rollouts fuelled expectations for a quick normalisation of the global economy.<\/p>\n
The Nikkei share average edged up 0.31% to 29,478.32 by 0147 GMT, while the broader Topix index was 0.01% higher at 1924.29. Both indexes were set to gain for a third session running.<\/p>\n
\u201cMarket participants have shifted their targets to shares that would benefit in the post-coronavirus era from those driven by the pandemic,\u201d said Hideyuki Suzuki, general manager of investment research at SBI Securities.<\/p>\n
\u201cThe number of daily infection cases has been falling globally and vaccine distribution has started in countries which were hit the hardest. That\u2019s what the market is looking at now.\u201d<\/p>\n
Wall Street reached all-time closing highs overnight, buoyed by prospects for increased stimulus and an accelerated vaccine rollout.<\/p>\n
In Japan, SoftBank Group rose more than 5% to hit a two-decade high earlier in the session, after its Vision Fund unit reported record profits as portfolio company listings accelerated.<\/p>\n
The airline sector gained, with Japan Airlines and ANA Holdings rising 3.55% and 1.7%, respectively.<\/p>\n
Isuzu Motor rose 2.09% after the automaker raised its annual profit forecast, while Nissan Motor gained 1.0%.<\/p>\n
Monex Group, owner of bitcoin exchange operator Coincheck, surged 11.08% as bitcoin jumped after Tesla Inc revealed it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars.<\/p>\n
Leading gains on Nikkei, SoftBank Group Corp rose 3.96%, Inpex Corp gained 3.15% and Nomura Holdings Inc jumped 3.09%.<\/p>\n
The biggest percentage decliners were Bandai Namco Holdings Inc, down 7.07%, Taiyo Yuden, which lost 6.47%, and Mazda Motor, down by 5.49%.<\/p>\n