Nikkei up on chip-related stocks, weak data limits upside [Reuters]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: Reuters
Nikkei up on chip-related stocks, weak data limits upside * 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 followed gains in their U.S. counterparts on Friday, but weak February export data limited the market’s upside. The Nikkei share average rose 0.6 percent to 21,579.66 at the midday break. 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 3.7 percent and Tokyo Electron added 3.4 percent, while Advantest Corp gained 1.7 percent. Index-heavyweights rose as well, with Fast Retailing up 0.8 percent and SoftBank Group Corp climbing 1.3 percent. The upside was limited by concern about global demand after Ministry
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