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Nikkei rises as chip-related stocks, exporters lead gains


Friday, 15 March 2019 10:24 WIB

Nikkei 225Saham Jepang


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Japan's Nikkei made firm gains on Friday morning as a weaker yen supported exporter stocks, while chip-related companies rose on earnings from Broadcom after the Wall Street close.

The Nikkei share average gained 1 percent to 21,498.07 in midmorning trade. For the week, the index has been up 2.2 percent so far.

Chipmaker Broadcom Inc's first-quarter profit and revenue forecast beat market estimates, lifting its stock 4.7 percent in extended trading.

The news helped lift shares of Japanese chip-related names, with chip equipment maker Tokyo Electron soaring 3 percent and silicon products maker Sumco Corp rising 1.2 percent.

The broader Topix gained 1.1 percent to 1,604.94, with all of its 33 subsectors in positive territory. Advancing issues outnumbered declining ones 1,740 to 306.

Source: reuters


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