TOKYO, Dec 7 (Reuters) - Japanese shares jumped on Tuesday,
led by SoftBank and travel related stocks, as easing worries
over the economic impact of the new Omicron coronavirus variant
The Nikkei share average jumped 1.27% to 28,282.01
by the midday close, while the broader Topix rose 1.23%
The Japanese market also tracked Wall Street's major
averages higher as investors were encouraged by some optimistic
comments from a top U.S. official on the latest COVID-19
"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, global tech investor which dragged
down the Nikkei in the previous session, jumped 7.76% and was
the biggest percentage gainer on the index.
Other heavyweights rose, with Uniqlo clothing shop owner
Fast Retailing rising 0.84% and chip-making equipment
maker Tokyo Electron gaining 0.82%.
Shares that would benefit from an economic reopening rose,
with airlines and railway operators led gains of the exchange's
33 industry sub-indexes, by rising 3.05% and 2.2%, respectively.
Travel related online services Open Door surged
7.61% and Airtrip gained 5.41%.
"The markets have been volatile globally. But these
volatilities suggest that the market is moving by bets by short
term investors," said Shigetoshi Kamada, general manager at the
research department at Tachibana Securities.
"Even as concerns over the Omicron has been eased, but the
Nikkei's 30,000 level has become a too high target and the
market will hover around the 29,000 level toward the end of the
Nippon Suisan Kaisha, which fell 6.96%, was the
largest parentage loser on the index, followed by Z Holdings
, losing 1.83% and Konami Holdings, which fell
There were 199 advancers on the Nikkei index against 23
(Reporting by Junko Fujita; Editing by Rashmi Aich)