Nikkei edges higher as Softbank, JFE gain ground

Tokyo, Jan 29: The Nikkei share average edged up on Monday after a brokerage upgrade boosted shares of mobile telephone operator Softbank Corp., while steel maker JFE Holdings Inc. gained on expectations of a business alliance with South Korea's Hyundai Steel Co.

But gains were limited as mega-bank Mitsubishi UFJ Financial Group Inc. was hit by concerns that one of its units may be penalised for its lending activities.

The Nikkei finished the morning session 0.23 percent higher at 17,462.59. The broad TOPIX index gained 0.50 percent to 1,736.73.

Reuters