Japanese stocks rise on U.S. stimulus optimism

TOKYO, Oct 21 (Reuters) - Japanese shares closed higher on
Wednesday as optimism that U.S. lawmakers could reach an
agreement on a pre-election stimulus package lifted riskier
assets globally.
The benchmark Nikkei share average .N225 settled 0.31%
higher at 23,639.46, erasing some of Tuesday's losses with 188
advancers on the index against 35 decliners. The broader Topix
.TOPX gained 0.73% to 1,637.60.
All but two of the 33 sector sub-indexes on the Tokyo
exchange finished higher. Cyclical iron and steel .ISTEL.T ,
miners .IMING.T and shippers .ISHIP.T were the three top
performers on the main bourse.
Analysts said a rise in U.S. stock futures during Asian
trade created a tailwind for the market. E-mini futures for the
S&P 500 EScv1 were last up 0.47%.
With just two weeks until the U.S. presidential election,
lawmakers moved closer to agreement on a new coronavirus relief
package as President Donald Trump said he was willing to accept
a large aid bill despite opposition from his own Republican
Party. The news helped Wall Street finish higher overnight and
buoyed sentiment in Asia. MKTS/GLOB
Among the gainers in Japan, Shimachu 8184.T soared by
14.54%, shy of its daily limit, after furniture retailer Nitori
Holdings 9843.T said it may bid for the home improvement
retailer, threatening a tender offer by DCM Holdings 3050.T .
Nitori and DCM were down 1.63% and 6.81%, respectively.
Shares of ANA Holdings 9202.T ended 1.73% higher, despite
reports that the coronavirus-battered airline operator was
expected to post a net loss of 530 billion yen ($5 billion) for
the fiscal year ending in March 2021. ANA said after market
hours that the forecast was undecided. Takara Bio Inc 4974.T jumped 5.42% after the biotechnology
company lifted its net profit forecast for the six months ended
Sept. 30. Nojima Corp 7419.T gained 7.31% after upgrading its net
profit outlook for the fiscal year ending in March 2021.
The Mothers Index .MTHR of start-up firm shares reversed
course to close 0.48% lower.