Nikkei soars as earnings hopes buoy Wall Street

Japanese shares rose to a seven-week high on Wednesday as risk sentiment recovered after Wall Street rose overnight on earnings hopes, lifting shares across the board.

The Nikkei rose 1.2 per cent to 22,109.48 in midmorning trade, after hitting a high of 22,136.21, its strongest level since Feb. 28.

Fast Retailing Co and Fanuc rallied 19 per cent and 2.6 per cent, respectively. Advantest rose 3.1 per cent, TDK Corp jumped 4.0 per cent and Panasonic Corp advanced 1.7 per cent.

The broader Topix gained 0.8 per cent to 1,744.43, reports Reuters.