TOKYO, Jan 31 (Reuters) - A slew of upbeat corporate
earnings and forecasts helped Japanese shares bounce back on
Friday, although lingering fears over the coronavirus epidemic
kept the market on track for its biggest weekly drop in nearly
six months.
By midday, the Nikkei share average .N225 rose 1.26% to
23,268.38, though it was still down 2.35% for the week, the
biggest since early August if sustained by close. The broader
Topix .TOPX gained 0.9% to 1,689.86.
Investors remained on the edge over how much the novel
flu-like virus could disrupt the global economy, with the World
Health Organisation declaring it a global health emergency.
Fujitsu 6702.T jumped 12% to an 18-year high after the
information technology conglomerate raised profit guidance and
dividend forecasts, and announced a share buyback.
Anritsu 6754.T soared 6.4%, also on upbeat earnings
reports due to strong 5G-related demand.
Nomura Holdings 8604.T rose 0.9% after Japan's biggest
brokerage and investment bank posted its fourth straight
quarterly profit, primarily due to a turnaround at its wholesale
business. The Topix subindex for brokerages .ISECU.T rose 1.6% and
hit its highest level since late 2018.
Strong earnings boosted Chugai Pharmaceutical 4519.T , the
second-biggest Japanese drugmaker by market cap, by 7.5%, too.
On the other hand, chip-making machine maker Screen Holdings
7735.T , fell 7.6% after declining by its daily limit of 19.3%
on Thursday, following surprise downgrades to its earnings
estimates.
Electronic parts maker Alps Alpine 6770.T shed 9.6% after
it cut its profit and dividend estimates for the year to March.
Nintendo 7974.T slipped 4.1% to a three-month low as an
upward revision in the game machine maker's profit guidance fell
short of strong market expectations. Car parts maker Denso 6202.T lost 1.0% after it cut
profits guidance.