TOKYO, Feb 12 (Reuters) - Japan's stock benchmark Nikkei
rose on Wednesday as index heavyweight SoftBank Group Corp
surged after a U.S. federal judge approved a merger between its
U.S. wireless unit Sprint Corp and T-Mobile US Inc.
The benchmark Nikkei average .N225 was up 0.5% at
23,813.52 by the midday break, while the broader Topix .TOPX
fell 0.1% to 1,717.42.
SoftBank Group 9984.T , the country's third-biggest company
by market value, jumped 13.7% and was the most-traded stock on
the main board after a U.S. judge approved a merger between
T-Mobile TMUS.O and Sprint S.N , whose majority owner is
SoftBank. The deal would allow SoftBank Group, which reports its
earnings after market close on Wednesday, offload a troubled
asset at a time when its other major bets face investor
scepticism. The jump in SoftBank Group pushed up the information and
communication sector sub-index .ICOMS.T 2.4%, making it the
best-performing sector on the Tokyo bourse.
But more than two-thirds of the 33 sector sub-indexes were
in negative territory, led by rubber products .IRUBR.T ,
electric and gas .IEPNG.T and construction .ICNST.T .
Overnight, S&P 500 .SPX and the Nasdaq .IXIC inched to
their second consecutive record closing highs, while the Dow
.DJI closed flat, as Chinese officials said the deadly
coronavirus epidemic could be contained by April. .N
In contrast to the upbeat mood on Wall Street, many
Tokyo-listed stocks were weighed down by worries of supply chain
disruptions from the coronavirus outbreak in China, where the
virus has claimed more than 1,100 lives.
Nissan Motor Co 7201.T lost 1.1% after the automaker
temporarily halted production at its plant in Kyushu,
southwestern Japan, due to supply shortages of parts from China,
as the outbreak starts to strain the global supply chain.