Japan Market extends gain to third days

Japan share market finished higher for third straight session on Thursday, 23 December 2021, as investors took heart from tracking overnight advances on Wall Street after strong US economic indicators and U.S. regulators approval of an oral COVID-19 drug developed by Pfizer Inc.

Market gains were, however, capped amid lingering concerns about community transmission of the Omicron variant in Osaka after three cases infected with the new variant through unknown routes.

At closing bell, the 225-issue Nikkei Stock Average advanced 236.16 points, or 0.83%, to 28,798.37. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 17.92 points, or 0.91%, to 1,989.43.

Tokyu Fudosan Holdings rose 4.4% after the real estate firm on Wednesday said that its subsidiary and variety store operator Tokyu Hands Inc. is to be bought by DIY store giant Cainz Corp.

Shares of Drugmaker Eisai nosedived 9.1% after Japan's health ministry delayed a decision on whether to approve an Alzheimer's treatment jointly developed by the Japanese pharmaceutical firm and its US partner Biogen, citing more data are needed to judge its effectiveness.

Hitachi shares dropped 3.2% after the company said its subsidiary had discovered "inappropriate conduct regarding some of the brake components" manufactured in Japan, such as periodic tests not being carried out.

CURRENCY NEWS: The Japanese yen traded at 114.25 per dollar compared with 114.07-17 in New York and 114.14-16 yen in Tokyo on Wednesday.

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