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Tokyo: Nikkei rises for 6th straight day but Softbank slumps on ARM bid

Tuesday, July 19, 2016 - 14:20
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[TOKYO] Japan's Nikkei share average rose for a sixth straight day on Tuesday to a near six-week high, with a sagging yen and Wall Street's rise to a fresh record boosting investors' appetite for riskier assets.

The Nikkei gained 1.4 per cent to 16,723.31 points after touching 16,726.71, its highest since June 9.

SoftBank Group Corp sank 10.3 per cent with the telecoms conglomerate's bid for British chip designer ARM Holdings seen adding to its already large debt burden.

Nintendo Co rose 14.4 per cent, continuing to ride high on the global success of the Pokemon GO mobile game now available in 35 countries. Nintendo's trading volume hit a new record high for an individual stock on the Tokyo bourse.

The broader Topix was up 1.1 per cent at 1,331.39 and the JPX-Nikkei Index 400 advanced 0.9 per cent to 11,939.98.

REUTERS