Nikkei driven up by chip-related stocks but weak export data caps gains [Reuters]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: Reuters
Nikkei driven up by chip-related stocks but weak export data caps gains | Reuters 3 Min Read * Chip stocks Sumco, Tokyo Electron surge * Property, drugmakers, utilities have outperformed in March * Investors cautious on concerns about weak China demand By Ayai Tomisawa TOKYO, March 18 (Reuters) - Japan’s Nikkei rose on Monday as chip-related stocks tracked strength in their U.S. peers, but weak February export data checked the market’s upside. The Nikkei share average ended 0.6 percent higher to 21,584.50. U.S. stocks rallied on Friday, with the S&P 500 posting its best weekly gain since the end of November, while tech shares led Nasdaq to its best weekly rise this year. Among Japanese chip-related stocks, Sumco Corp surged 3.9 percent, Tokyo Electron added 3.2 percent and Advantest Corp gained 2.1 percent. Index-heavyweights also rallied, with SoftBank Group Corp climbing 1.2 percent and Fanuc Corp up 1.6 percent. The broader market gains were limited by concerns about global demand
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