news/BIIB/2023.01.10/Japan's Nikkei closes at 2-week high on tech boost.txt

TOKYO, Jan 10 (Reuters) - Japan's Nikkei index on
Tuesday closed at its highest in two weeks, as technology stocks
jumped, but the gains were capped by caution ahead of next
week's meeting by the Bank of Japan.The Nikkei share average ended 0.78% higher at
26,175.56, its highest since Dec. 28. The broader Topix
gained 0.27% to 1,880.88.The Nasdaq Composite ended well off the day's highs
overnight even as the Dow ended lower and the S&P 500
index closed nearly flat, as expectations that the
Federal Reserve would dial back on its hawkish stance were
offset by lingering worries about inflation."Treasury yields fell and the Nasdaq gained momentum in the
U.S. overnight. So, investors bought Japanese stocks but the
gains were limited," said Shuji Hosoi, senior strategist at
Daiwa Securities."... Investors are cautious about the Bank of Japan's
decision to be made at a policy meeting next week. The bank
surprised investors last month, and the (central) bank may do
something similar."Japan's central bank last month widened the trading band for
the benchmark 10-year government bonds to 0.5% from 0.25%,
sending yields across the curve higher.Eisai closed up 4.84%, after jumping as much as 8%
after the U.S. Food and Drug Administration approved its
Alzheimer's drug lecanemab, developed in partnership with Biogen
Inc, for patients in the earliest stages of the
disease.Chip giants Tokyo Electron climbed 3.08% and
Advantest gained 1.88%. Air-conditioning maker Daikin
Industries rose 5.33%.Technology investor SoftBank Group climbed 2.36%
after a report said British Prime Minister Rishi Sunak has
revived talks with the Japanese firm regarding a London listing
for chip designer Arm LtdHeavyweight Fast Retailing, the owner of the Uniqlo
clothing brand, gained 0.98%.Bucking the trend, utility Tokyo Electric Power Company
Holdings lost 4.18% and was the worst performer on the
Nikkei. Kansai Electric Power shed 2.79%. Staffing
agency Recruit Holdings lost 3.02%.
(Reporting by Junko Fujita; Editing by Eileen Soreng and
Uttaresh.V)