April 13, 2018 / 1:47 AM / 8 months ago

Nikkei rises as risk appetite recovers; heads for 3rd week of gains

TOKYO, April 13 (Reuters) - Japan’s Nikkei share average rose on Friday morning as suggestions from U.S. President Donald Trump that a military strike on Syria may not be imminent supported investor sentiment and higher U.S. bond yields helped financial stocks.

The Nikkei gained 0.9 percent to 21,863.02 in midmorning trade. For the week, the index has added 1.4 percent, heading for a third straight week of gains.

Trump said in a tweet on Thursday that a possible attack on Syria could occur “very soon or not so soon at all,” easing fears of confrontation with Russia.

Most sectors were in positive territory, with financials outperforming on the back of rising U.S. yields. Mitsubishi UFJ Financial Group surged 3.1 percent and insurer T&D Holdings soared 2.5 percent.

Electronic components makers and chip equipment makers also gained ground, with TDK Corp jumping 4.6 percent, Advantest Corp soaring 3.5 percent and Alps Electric surging 4.5 percent.

Index-heavy Fast Retailing gained 1.6 percent after raising its profit forecast, contributing a hefty 29 points to the Nikkei benchmark, or more than 10 percent of its gains.

The broader Topix gained 1.0 percent to 1,735.25.

Reporting by Ayai Tomisawa; Editing by Sam Holmes

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