TOKYO, Feb 9 (Reuters) - Japanese shares closed higher for a third straight session, after hitting fresh 30-year highs, as strong corporate results and progress in vaccine rollouts raised expectations of a quick economic recovery.
"Investors bought back stocks whose fundamentals are strong, like chip-related shares," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley (NYSE: MS ) Securities.
"Airline and railway shares, which had been bought until this morning, became a target for selling as their fundamentals hadn't started to improve yet."
SoftBank Group 9984.T closed with a gain of 3.41%. The stock had gained more than 5% to hit a two-decade high, driven by its Vision Fund's record profits. shares climbed, with Murata Manufacturing 6981.T rising 3.21%, TDK Corp 6762.T jumping 2.65%, Advantest 6857.T adding 2.26% and Tokyo Electron 8035.T jumping 1.9%.
Monex Group 8698.T , the owner of bitcoin exchange operator Coincheck, surged 16.05% as bitcoin jumped after Tesla Inc TSLA.O revealed it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars. airline sector retreated from early gains, with Japan Airlines 9201.T falling 0.95% and ANA Holdings 9202.T losing 0.92%.
The dollar traded at 104.85 yen JPY= , down 0.35% during the Asian trading hours.
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