TOKYO: Japan’s Nikkei ended modestly higher on Tuesday as shares of SoftBank Group and Fast Retailing rebounded, although worries over a potential spike in coronavirus infections during the Olympics limited gains. The Nikkei share average closed 0.16% higher at 28,643.21, giving up earlier gains of 0.5%. The broader Topix gained 0.28% at 1,954.50.
Tech-startup investor SoftBank Group rose 1% and Uniqlo clothing chain operator Fast Retailing added 0.45%, while air-conditioner maker Daikin Industries rallied 2.6%, following sharp declines on Monday. The Nikkei had slid more than 0.6% in the previous session after a rise in Covid-19 cases in Tokyo over the weekend. Industrial machinery manufacturer Hitachi Zozen was the biggest percentage gainer on the Nikkei, rising 4.2%, while the biggest percentage loser was packaging container maker Toyo Seikan Group Holdings, which suffered a 4.1% decline. Among sectors, air transport gained the most on the Topix, adding 2.8%. Oil and coal producers were next, up 1.8%, followed by miners, which rose 1.6%.
Shippers fell the most, down 1%, with securities firms down 0.7%, followed by a 0.6% decline for pharma companies.
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