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CORRECTED-Nikkei rises to more than 1-week high; chip-related stocks outperform
November 17, 2017 / 2:33 AM / a month ago

CORRECTED-Nikkei rises to more than 1-week high; chip-related stocks outperform

(Corrects milestone in headline and lede)

TOKYO, Nov 17 (Reuters) - Japan’s Nikkei share average rose to a more than one-week high on Friday morning, helped by shares in most sectors while chip-related stocks such as Sumco and Tokyo Electron outperformed.

The Nikkei gained 0.8 percent to 22,536.93 in midmorning trade after rising to as high as 22,757.40, the highest since Nov. 9.

The index has fallen 0.9 percent so far this week, on track to snap a nine-week winning streak.

Semiconductor equipment maker Tokyo Electron soared 3.2 percent and semiconductor silicon wafer manufacturer Sumco Corp surged 3.8 percent.

Consumer electronics products makers also staged a rally. Sony Corp gained 1.9 percent and Panasonic Corp advanced 1.4 percent.

On the other hand, utility stocks slipped and were the worst performer on the board. Chubu Electric Power dropped 0.5 percent, Hokuriku Electric Power shed 1.3 percent and Tokyo Gas declined 0.3 percent.

The broader Topix gained 0.6 percent to 1,771.71.

Reporting by Ayai Tomisawa; Editing by Sam Holmes

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