Nikkei at 1-1/2-week high on Wall Street rally, weaker yen

TOKYO, Feb 6 (Reuters) - Japanese shares advanced to their

highest in 1-1/2 weeks on Thursday after U.S. benchmark S&P 500

hit a record high on encouraging economic data, while investors

still kept a cautious eye on the impact from the coronavirus

outbreak.

The benchmark Nikkei average .N225 advanced 2% to

23,784.86 in late-morning trade, on track to post the biggest

daily rise in a month, while the broader Topix .TOPX added

1.9% to 1,733.45. Both indexes were at their highest since Jan.

All of the 33 sector subindexes on the Tokyo Stock Exchange

were in positive territory, led by cyclical sectors, with oil

and coal products .IPETE.T , paper and pulp .IPAPR.T and

mining .MING.T becoming the top three performing subindexes.

On Wall Street, the S&P 500 .SPX climbed 1.1% to a record

close and the Nasdaq Composite .IXIC added 0.4% to an all-time

peak, while the Dow .DJI advanced 1.7%, following upbeat ADP's

private sector jobs report and ISM's non-manufacturing index.

.N The greenback hit a two-week high of 109.91 yen JPY=EBS in

early Asian trade, providing a tailwind for Japanese exporters,

as a weaker local currency boosts corporate profits when they

are repatriated.

With earnings season in full swing in Japan, Pan Pacific

International Holdings Corp 7532.T soared 18.4% after the

discounter Don Quijote's parent raised its operating profit

forecast for the year ending June.

Z Holdings Corp 4689.T jumped 8.6% after internet services

firm reported a net profit of 75.1 billion yen ($685 million)

for the April-Dec period, up 7% from a year earlier, due to its

consolidated subsidiary of ZoZo. Bucking the overall firmness, DeNA Co Ltd 2432.T dived

8.9% after the mobile partner of Nintendo booked a 49.4 billion

yen writedown as its gaming business falters in Japan's

saturated mobile market. Although the financial markets found some comfort, traders

admitted concerns about the coronavirus outbreak and its broader

economic and market impact still linger.

The death toll from a new coronavirus in mainland China

jumped by 73 to 563 on Thursday as experts intensified efforts

to find a vaccine for a disease that has shut down Chinese

cities and forced thousands more into quarantine around the

world. Infections stand at 28,018. Drugmakers and the World Health Organization played down

reports about progress towards finding treatments, which had

boosted traders' confidence. ($1 = 109.8300 yen)

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