Nikkei rises to near 6-wk high on weak yen, SoftBank fall limits gains

lunes 18 de julio de 2016 22:12 GYT
 

* Nikkei up 0.3 pct, Topix gains 0.1 pct

* Slipping yen, Wall Street gains prop up Nikkei

* SoftBank drops after ARM acquisition announcement

By Shinichi Saoshiro

TOKYO, July 19 (Reuters) - Japan's Nikkei share average edged up to a near six-week high on Tuesday, continuing to draw support from a weakening yen and Wall Street's rise to a fresh record overnight.

The Nikkei's gains, however, were limited by a decline in SoftBank Group Corp, which sank after the telecoms conglomerate said it was buying British chip designer ARM Holdings for $32 billion.

The Nikkei was up 0.3 percent at 16,546.82 after rising to 16,658.11, its highest since June 9.

The dollar rose to a 3-1/2 week high of 106.32 yen early on Tuesday, boding well for Japanese risk assets.

"It is mostly about the weak yen supporting stocks again - the equity market will continue tracking currencies closely," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management.   Continuación...