* Nissan tumbles ahead of emission briefing
* Rainfall impact on stock market limited – analysts
* Eisai jumps to record high after some brokers hike ratings
TOKYO, July 9 (Reuters) – Japan’s Nikkei share averagerebounded to one-week highs on Monday as investors took heartfrom U.S. jobs growth, while Eisai extended its gains to itsdaily-limit high on optimism for its Alzheimer’s drug.
However, Nissan Motor Co7201.T skidded 4.6 percent to1,003.5 yen, the lowest closing level since November 2016 afterthe company said it would hold a briefing at 0800 GMT regardingprocedures to measure vehicle exhaust gas at its domesticplants. urn:newsml:reuters.com:*:nL4N1U52A9
Nissan declined to give further details. Japanese companieshave admitted to several cases of data tampering over the pastyear, tarnishing the country’s reputation for high-quality,efficient manufacturing.
Analysts say investors were keeping a watchful eye theunprecedented rainfall that lashed western Japan over theweekend, killing at least 88 people and shuttering somefactories. urn:newsml:reuters.com:*:nL4N1U404Z
The strong U.S. jobs data on Friday helped lift the Nikkeito close 1.2 percent higher at 22,052.18, the highest closinglevel since June 29.
Automakers including Mazda Motor Corp7261.T and DaihatsuMotor Co suspended operations at several plants on Saturday,with Mazda shares up 0.2 percent.
Electronics maker Panasonic Corp6752.T said one plant inOkayama, western Japan, could not be reached because of roadclosures. Panasonic shares dropped 0.5 percent.
“If the rainfall affects supply chains in the mid-to-longterm, there will be selling in impacted stocks. Otherwise theoverall impact should be limited,” said Norihiro Fujito, chiefinvestment strategist at Mitsubishi UFJ Morgan StanleySecurities.
For now, an escalating trade war between China and theUnited States took a back seat as investors cheered strong U.S.payrolls data. urn:newsml:reuters.com:*:nLNS6IEEG7
Tech shares and banks gained ground, with TDK Corp6762.T rallying 4.2 percent, Advantest6857.T adding 2.5 percent andMitsubishi UFJ Financial Group8306.T advancing 1.6 percent.
Eisai Co4523.T soared 16 percent to a daily limit high of10,710 yen, which is also a record high, extending its surgefrom Friday. The strong rally came as several brokeragesupgraded the stock rating after the Japanese drugmaker andBiogen Inc BIIB.O said that the final analysis of a mid-stagetrial of their Alzheimer’s drug showed positive results forpatients who received the highest dose. urn:newsml:reuters.com:*:nL1N1U201E
Nomura Securities hiked its rating to ‘buy’ from ‘neutral’and raised the target price to 15,000 yen from 8,400 yen.
“We take a favorable view of high growth prospects for thecompany as a manufacturer of two promising Alzheimer’s drugcandidates and Lenvima, for use in combination with cancerimmunotherapy Keytruda,” Nomura analysts wrote in a report toclients.
