The Nikkei is trading up 1.5% here this morning with drugmaker stocks such as Chugai Pharmaceutical Co surged 17% after an outbreak of Swine Flu that has killed 81 people so far in Mexico. Astella Pharma rose 3% and Takeda Pharmaceutical, Japan’s largest drugmaker rose 2%.
Elsewhere shares of Shensei Bank and Azora Bank gained 10% and 15% respectively,after news that the two are in talks to merge and create Japan’s sixth largest bank. Sumitomo Mitsui Finncial Group alo rose, climbing 4.2% after sources said that the bank had gained exclusive rights to buy Citigroup’s retail brokerage arm and investment banking operations in Japan.
