February 27, 2018 / 2:16 AM / 7 months ago

Nikkei soars to more than 3-week high; Topix Core 30 stocks gain ground

TOKYO, Feb 27 (Reuters) - Japan's Nikkei share average soared to more than a three-week high after large market capitalization stocks in the Topix's Core 30 stocks led the gains, while Inpex attracted buying after it won a stake in an Abu Dhabi oil concession.

The Nikkei gained 1.5 percent to 22,490.24 in midmorning trade, after climbing as high as 22,502.05, the loftiest since Feb. 5.

The Topix Core 30 index, which represents 30 stocks with large market capitalization and liquidity on the main board, jumps 1.4 percent to a near three-week high after Wall Street gained after investor concerns about rising interest rates receded.

Hitachi surged 2.8 percent, Keyence soared 2.2 percent and Takeda Pharmaceutical rose 2.5 percent.

The mining sector was the best sectoral performer and was up 2.7 percent, after Inpex Corp soared 3.0 percent on news that it has been awarded a 10 percent interest in the Lower Zakum offshore concession by Abu Dhabi.

The broader Topix added 1.1 percent to 1,794.30. (Editing by Simon Cameron-Moore)

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