Japanese shares edge up as weak yen lifts sentiment

Japanese shares edged up on Thursday as a weaker yen lifted risk sentiment, but Takeda Pharmaceutical stumbled after it said it was considering a bid for London-listed Shire that could top $40 billion.

The Nikkei gained 0.4 per cent to 21,123.86. Food stocks gained ground, although tech shares came under pressure as they tracked a similar weakness on Wall Street, reports Reuters.

On the Nikkei, alcohol beverage maker Asahi Group Holdings rose 2.7 per cent and condiment maker Ajinomoto added 1.9 per cent, while index-heavy stocks such as Fast Retailing advanced 2.5 per cent.

A weaker yen against the dollar amid perceived progress on North Korea issues also underpinned investor sentiment.

Tech shares were pressured, with semiconductor equipment makers Tokyo Electron falling 2.3 per cent and Advamtest Corp shedding 1.6 per cent.

The broader Topix advanced 0.1 per cent to 1,701.73.