Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Nikkei rises on chipmakers, energy boost; SoftBank drops

11/19/2021 | 02:21am EST

TOKYO, Nov 19 (Reuters) - Japan's Nikkei share average rose on Friday as chipmaking giants tracked their U.S. peers higher and energy shares surged after a rebound in oil prices.

However, gains were capped by a second straight session 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 extended the morning session's gains to end 0.50% higher at 29,745.87. Energy was the best performing sector, jumping 1.79%.

The broader Topix started slowly but rushed to catch up in the afternoon session and ended 0.44% higher. The growth index advanced 0.56%, outpacing the 0.32% rise in the value index.

Chipmaker Tokyo Electron was the Nikkei's top performing stock in terms of index points, climbing 3.65%. Advantest added 1.56%.

Electrical component maker Taiyo Yuden was the biggest percentage gainer on the index, rallying 6.84%.

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.

Meanwhile, a rebound in crude oil from six-week lows reached on Thursday lifted energy companies, with Inpex advancing 3.22%.

Elsewhere, Kubota jumped 6.20% on a plan to raise its stake in Indian tractor maker Escorts Ltd.

Sportswear maker Asics rose 3.35% after Japanese Major League Baseball star Shohei Ohtani was named American League MVP.

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 on Thursday.

SoftBank Group slid 1.86%, adding to the previous session's 2% drop.

"In addition to Alibaba, there are many more investments, and the risk is that SoftBank Group shares could be shaken by moves in any of them," said Ryuta Otsuka, a strategist at Toyo Securities Co.

Mizuho Financial Group dropped 1.85% after local media reported the CEO was stepping down over a series of system failures this year.

Tokyo Kikai tumbled 9.40% 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 and Subhranshu Sahu)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION -6.97% 8810 Delayed Quote.-13.12%
ASICS CORPORATION -4.06% 2057 Delayed Quote.-15.92%
ESCORTS LIMITED -0.18% 1851.15 Delayed Quote.-2.84%
INPEX CORPORATION 0.18% 1093 Delayed Quote.8.88%
MIZUHO FINANCIAL GROUP, INC. -0.71% 1546 Delayed Quote.6.43%
NVIDIA CORPORATION -3.98% 218.09 Delayed Quote.-22.57%
SOFTBANK GROUP CORP. -9.00% 4692 Delayed Quote.-5.12%
TAIYO YUDEN CO LTD -5.49% 5160 Delayed Quote.-17.52%
TOKYO ELECTRON LTD -4.84% 53680 Delayed Quote.-14.89%
TOKYO KIKAI SEISAKUSHO, LTD. -6.52% 803 Delayed Quote.-17.40%
TOPIX INDEX -2.61% 1842.44 Real-time Quote.-5.04%
Latest news "Economy & Forex"
01:34pPorn star Stormy Daniels testifies ex-lawyer Michael Avenatti 'stole from me'
01:33pOil dips from seven-year high as Russia tensions offset Fed tightening
01:29pLvmh cfo says operating margins of louis vuitton have not declin…
01:20pLvmh chairman arnault says, on pricing power, we have to be reas…
01:19pLvmh chairman arnault says january performance shows growth at s…
01:12pExxon, union swap proposals to end lockout at Texas refinery
01:12pLvmh arnault says we have made an excellent acquisition with tif…
01:11pItaly party chiefs see a chance for president to be picked on Friday
01:08pLvmh chairman says still in a "mourning period" after death of…
Latest news "Economy & Forex"