November 22, 2017 / 2:27 AM / a year ago

Nikkei buoyed by large-cap stocks on global rally

TOKYO, Nov 22 (Reuters) - Japan’s Nikkei share average rose on Wednesday morning, buoyed by gains in large-cap stocks such as SoftBank, Fanuc and financial companies as global growth hopes lifted the mood across world markets.

The Nikkei gained 0.8 percent to 22,596.84 in midmorning trade.

Index-heavy large cap stocks such as SoftBank Group Corp gained 1 percent and Fanuc Corp added 0.9 percent.

Banks and insurers soared, with Sumitomo Mitsui Financial Group gaining 1.0 percent and Dai-ichi Life Holdings advancing 1.3 percent.

Meanwhile, the Tokyo Stock Exchange suspended trading in Nippon Paint Holdings, after two people familiar with the matter said that the company made an all cash offer on Tuesday to acquire U.S. coatings company Axalta Coating Systems Ltd, a move which prompted the latter to end merger talks with peer Akzo Nobel.

The broader Topix gained 0.6 percent to 1,780.82.

Reporting by Ayai Tomisawa; Editing by Shri Navaratnam

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