Nikkei surges, SoftBank jumps on Alibaba earnings

Wed Apr 16, 2014 2:12am EDT

(Updates to close)
    TOKYO, April 16 (Reuters) - Japan's Nikkei share average
surged on Wednesday after a better performance on Wall Street
the day before and comments from Japanese Finance Minister Taro
Aso that the market took to suggest more stock buying by the
government's pension fund.
    Index heavyweight SoftBank soared after a strong
earnings report from its Chinese e-commerce affiliate Alibaba
Group Holding Ltd.
    The Nikkei share average rose 3 percent to
14,417.68, extending its rebound from a six-month low around
13,885 hit earlier this month. The benchmark suffered its worst
weekly performance in three years last week.
    The broader Topix rose 2.7 percent to 1,166.55, and
the new JPX-Nikkei Index 400 advanced 2.6 percent to
10,611.76.

 (Reporting by Hideyuki Sano and Shinichi Saoshiro; Editing by
Jacqueline Wong)
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