(Corrects first and eighth paragraphs to say energy shares
gained as oil rose, not fell; Adds WTI move)
TOKYO, Nov 19 (Reuters) - Japan's Nikkei share average rose
on Friday, as chipmaking giants tracked a rally in their U.S.
peers and energy shares surged after oil prices rebounded.
However, gains were capped by a second straight day of
losses for SoftBank Group. Alibaba Group,
SoftBank group's largest asset, forecast on Thursday its slowest
revenue growth since its 2014 trading debut.
The Nikkei added 0.41% to 29,718.62 as of the midday
break, with energy by far the best performing sector, jumping
The broader Topix added 0.11%. The growth index
rose 0.25%, compared with a small loss for the value
Chipmaker Tokyo Electron was the Nikkei's top
performing stock, surging 4.88%. Advantest advanced
Overnight, the Philadelphia semiconductor index
advanced 1.8% to hit its second record close in three sessions,
buoyed this time by an earnings beat from Nvidia.
That helped the S&P 500 and Nasdaq to close
at all-time highs.
Meanwhile, a rebound in crude oil from six-week lows helped
energy companies. Inpex advanced 3.11%.
However, U.S. West Texas Intermediate crude remained
below $80, from a multi-year high above $85 last month, helping
support investor sentiment more broadly.
"Inflation and the price of crude oil remain a big focus for
investors," said Masahiro Ichikawa, chief market strategist at
Sumitomo Mitsui DS Asset Management.
"The market likes the drop in crude below $80 because it
should feed through eventually to lower prices for gasoline and
other things, which is seen as a plus for the economy."
Elsewhere, Kubota jumped 4.3% on a plan to raise its stake
in Indian tractor maker Escorts Ltd.
Sportswear maker Asics rose 2.84% after Japanese
Major League Baseball star Shohei Ohtani was named American
The Japanese government's announcement of a planned $490
billion stimulus package was largely ignored by the market,
partly because the details were already reported by local media
SoftBank Group slid 1.45%, adding to the previous session's
Tokyo Kikai tumbled 8.51% after Japan's supreme
court dismissed a request to block a plan by the printing
machinery maker for a "poison pill" takeover defence.
(Editing by Uttaresh.V)