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Nikkei rises on Wall St record; SoftBank soars on US investment plan
December 7, 2016 / 6:13 AM / 10 months ago

Nikkei rises on Wall St record; SoftBank soars on US investment plan

TOKYO, Dec 7 (Reuters) - Japan’s Nikkei share average rose on Wednesday, buoyed by a surge in index-heavyweight SoftBank after it announced a bold investment foray into the United States.

SoftBank ended 6.2 percent higher after Chief Executive Masayoshi Son said he would invest $50 billion in U.S. companies.

The Nikkei gained 0.7 percent to 18,496.69 points. SoftBank contributed a hefty positive 50 points to the Nikkei, or more than a third of the benchmark index’s point gains.

The broader Topix advanced 0.9 percent to 1,490.62 and the JPX-Nikkei Index 400 added 0.8 percent to 13,344.30.

Investment sentiment was also support by another record close on Wall Street overnight. (Reporting by Ayai Tomisawa; Editing by Kim Coghill)

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