Japanese shares end higher, led by travel-related stocks

TOKYO, April 26 (Reuters) - Japanese shares settled higher
on Monday as travel-related stocks bounced back from losses
driven by fears of coronavirus curbs, and after ANA 9202.T
forecast a smaller-than-expected full-year loss.
The Nikkei share average .N225 inched up 0.36% to close at
29,126.23, while the broader Topix .TOPX edged up 0.17% to
1,918.15.
Travel-related shares led the gains after their big declines
in recent weeks as investors closed their selling positions made
in anticipation of social restrictions to curb the fourth wave
of COVID-19 infections.
Japan on Friday declared "short and powerful" states of
emergency for Tokyo, Osaka and two other prefectures, requiring
restaurants, bars and karaoke parlours serving alcohol to close.
"Those sectors hit by the coronavirus are getting bought
back as there are hopes that the coronavirus infections will
decline now that the government has declared an emergency," said
Takashi Hiroki, chief strategist at Monex Securities.
ANA Holdings 9202.T jumped 5.78% after the airline said
its full-year operating loss would be smaller than previously
forecast. Railway companies also soared, with Central Japan Railway
9022.T , West Japan Railway 9021.T and East Japan Railway
9020.T up 4.67%, 5.23% and 3.44%, respectively.
Tokyo Disney Resort operator Oriental Land Corp 4661.T
rose 2.58%.
"Because the market has started to underperform globally
partly due to the rise of local infections, if the new
restrictions curtail infections, the market might be relieved
even if economic growth is somewhat lessened by such," said John
Vail, chief global strategist at Nikko Asset Management.
M3 2413.T dropped as much as 5.82% after the medical
portal platform operator announced upbeat quarterly results but
declined to give an annual guidance for the current year.
M3 followed a pattern seen in recent sessions when the
market's leading growth shares such as Yaskawa Electric 6506.T
and Nidec 6594.T fell despite reporting fairly upbeat
earnings.
Telephone giant NTT 9432.T fell 0.98%, making it the
biggest percentage loser on the Nikkei, after a report said it
would form an alliance with technology firm Fujitsu 6702.T .