November 22, 2017 / 6:32 AM / a month ago

Nikkei rises to near 2-week high before holiday as large-caps gain

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

The Nikkei ended 0.5 percent higher at 22,523.15, the highest closing level since Nov. 10. Japanese markets will be closed on Thursday for a national holiday.

Index-heavy SoftBank Group Corp gained 1.2 percent, while Fanuc Corp added 1.6 percent.

Banks and insurers soared, with Sumitomo Mitsui Financial Group gaining 1 percent and Dai-ichi Life Holdings advancing 1.2 percent.

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

Nippon Paint closed 4.5 percent lower at 3,535 yen, the price before the bourse halted its trading.

The broader Topix gained 0.3 percent to 1,777.08. (Reporting by Ayai Tomisawa; Editing by Shri Navaratnam and Gopakumar Warrier)

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