July 19, 2016 / 7:11 AM / 2 years ago

Nikkei rises for 6th straight day but Softbank slumps on ARM bid

TOKYO, July 19 (Reuters) - Japan’s Nikkei share average rose for a sixth straight day on Tuesday to a near six-week high, with a sagging yen and Wall Street’s rise to a fresh record boosting investors’ appetite for riskier assets.

The Nikkei gained 1.4 percent to 16,723.31 points after touching 16,726.71, its highest since June 9.

SoftBank Group Corp sank 10.3 percent with the telecoms conglomerate’s bid for British chip designer ARM Holdings seen adding to its already large debt burden.

Nintendo Co rose 14.4 percent, continuing to ride high on the global success of the Pokemon GO mobile game now available in 35 countries. Nintendo’s trading volume hit a new record high for an individual stock on the Tokyo bourse.

The broader Topix was up 1.1 percent at 1,331.39 and the JPX-Nikkei Index 400 advanced 0.9 percent to 11,939.98. (Reporting by Shinichi Saoshiro; Editing by Kim Coghill)

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