TOKYO, Jan 22 (Reuters) - Japanese shares made modest gains
on Wednesday, as earlier investor panic about the coronavirus in
China abated, although hygeine-related firms remained in demand
and pressure on the tourism sector persisted.
The Nikkei share average .N225 rose 0.2% to 23,904.51 in
mid-morning trade, partially clawing back losses from the
previous session, while the broader Topix .TOPX added 0.1% to
1,737.47.
The virus, which causes a type of pneumonia, has spread to
more Chinese cities including Beijing and Shanghai as the number
of patients in China more than tripled. More cases were are
reported outside China, including the United States.
Support for hygiene-related stocks remained strong. Azearth
3161.T , a supplier of protective attire, soared 14.4%, one day
after it climbed to its daily limit while fibre-maker Omikenshi
3111.T jumped 8.3%, also after rising to its daily limit
previous day.
Daikin Industries 6367.T , which produces air conditioning
products, gained 0.7%.
On the flip side, inbound tourism-related stocks remained
under pressure.
Isetan Mitsukoshi Holdings 3099.T dropped 1.3%, while Bic
Camera Inc 3048.T and Pan Pacific International Holdings
7532.T sagged 0.7% each, due to worries that the number of
Chinese tourists to Japan could decrease.
Traders said institutional investors have also adopted a
wait-and-see mood ahead the Japanese corporate earnings season
for the October-December quarter.
Nidec Corp 6594.T and Disco Corp 6146.T are due to
announce their financial results on Thursday.
Elsewhere, Mitsubishi Motors 7211.T slumped 4.0% after the
German prosecutor's office said it is probing the carmaker for
suspected use of illegal defeat devices installed in its diesel
engines.