Roundup: Tokyo stocks close higher as Omicron concerns fade

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TOKYO, Dec. 7 (Xinhua) -- Tokyo stocks increased largely Tuesday as concerns are fading over the new Omicron variant of COVID-19, while sharp gains in the blue-chip SoftBank Group further lifted the market.

The 225-issue Nikkei Stock Average finished up 528.23 points, or 1.89 percent, from Monday at 28,455.60.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange ended 42.31 points, or 2.17 percent, higher at 1,989.85.

Every industry category gained ground, except for farm and fishery issues. Major gaining issues were led by air transportation and marine transportation issues.

Tokyo stocks followed overnight gains in U.S. shares after the Dow Jones index's largest daily point gain this year, as Anthony Fauci, the top U.S. infectious diseases expert, suggested the Omicron variant may not be as severe as initially thought.

Throughout Tuesday, investors bought a wide range of issues in Tokyo, pushing the Nikkei Index up nearly 700 points in afternoon trading, partly because SoftBank Group's stocks were sold out after the Nikkei Index plunged more than 8 percent a day earlier.

"Fauci's remarks have eased fears about the Omicron strain, raising hopes for the normalization of economic activities," said Makoto Sengoku, senior equity market analyst at the Tokai Tokyo Research Institute.

The weaker yen buoyed the downward trend, while gains in Asian markets and steady U.S. stock index futures boosted investor sentiment, Sengoku said.

On the First Section, advancers outnumbered decliners 2,110 to 58, while 16 finished unchanged.

SoftBank Group soared 7.9 percent after a seven-day drop, while a sharp increase in New York trading of China's Alibaba Group Holding Ltd., in which SoftBank is a shareholder, further encouraged the Nikkei heavyweight.

Meanwhile, issues that had been struck following the emergence of the Omicron variant performed particularly well, brokers said.

Among air transportation issues, ANA Holdings jumped 3.8 percent, and Japan Airlines advanced 4.6 percent.

Department store operator Isetan Mitsukoshi Holdings went up 3.2 percent, while competitor Takashimaya gained 2.9 percent.

Yamato Holdings rose 2.1 percent, a day after saying the number of parcels delivered by the company in November grew 9.8 percent from the previous year.

Trading volume on the main section increased to 1,291.11 million shares from Monday's 1,086.94 million shares. Enditem

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