Nikkei rises to 2 1/2-week high on Wall St gain; Sharp dives

jueves 25 de febrero de 2016 22:25 GYT

* Nikkei rises 2.7 pct for the week

* Spotlight on regional bank merger news

* G20 meeting in focus

By Ayai Tomisawa

TOKYO, Feb 26 (Reuters) - Japan's Nikkei soared to a 2 1/2-week high on Friday morning after risk sentiment recovered on Wall Street's gains and the weak yen, but individual stocks such as Sharp Corp were also in focus.

Sharp stumbled 15 percent after Taiwan's Foxconn said it was delaying the signing of a deal to take over the company. On Thursday, it ended 14 percent lower ahead of Foxconn's statement.

Sources told Reuters that Foxconn had put the takeover on hold after discovering previously undisclosed contingent liabilities that amounted to "hundreds of billions of yen".

The Nikkei rose 0.6 percent to 16,241.89 in mid-morning trade after rising to as high as 16,472.50 earlier, the highest since Feb. 9. The benchmark index has gained 2.7 percent for the week.

The Nikkei has recovered 10 percent from the 14,865.77 hit earlier this month, a level not seen since October 2014, as panic selling caused by low oil prices and the strong yen paused. But analysts said that concerns about these factors still outweigh optimism, and it may take some time for the market to regain its confidence.   Continuación...