Nikkei up 1.5 pct as Fast Retailing jumps on outlook
(Updates to midmorning)
TOKYO, April 11 (Reuters) - Japan's Nikkei average rose 1.8 percent on Friday, led higher by Fast Retailing Co (9983.T) after it raised its full-year outlook, while Astellas Pharma Inc (4503.T) jumped after U.S. authorities approved its heart-imaging agent.
High-tech shares such as Advantest Corp (6857.T) also advanced after their U.S. peers lifted Wall Street on a brokerage upgrade of chip makers.
"Blanket pessimism about Japanese corporate earnings is likely receding," said Masaru Hamasaki, a senior strategist at Toyota Asset Management.
"Investors had been extremely worried about U.S. corporate earnings and the impact of a stronger yen on exporters, but they might have started thinking retailers and other domestic-demand reliant shares could benefit from a stronger yen."
The benchmark Nikkei .N225 gained 196 points to 13,141.30 as of 0058 GMT, on course to end a three-day losing streak. The average fell 1.3 percent on Thursday to log its lowest close in more than a week.
The broader TOPIX index added 0.9 percent to 1,259.48.
Shares of Fast Retailing climbed 2.8 percent to 9,870 yen after the retailer raised its full-year operating profit forecast by 10 percent to 80.1 billion yen on the back of a recovery at its Uniqlo casual-clothing chain.
Astellas added 3.9 percent to 4,240 yen after it and Therapeutics CVTX.O said the U.S. Food and Drug Administration had approved their heart-imaging agent regadenoson, also called Lexiscan. [ID:nT167567]
Japan's technology shares also gained, with Advantest, the world's largest maker of microchip testers, up 4.3 percent at 2,770 yen.
On Thursday, Intel Corp (INTC.O) shares jumped and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased. (Reporting by Aiko Hayashi; Editing by Hugh Lawson)
