November 30, 2017 / 6:41 AM / a year ago

Nikkei rises to 3-week high; financial stocks advance

TOKYO, Nov 30 (Reuters) - Japan’s Nikkei share average rose to a three-week high on Thursday as gains by financial stocks offset weakness in tech shares following a drop by their U.S. counterparts overnight.

The Nikkei, which was down part of the day, ended 0.6 percent higher at 22,724.96. The broader Topix advanced 0.3 percent to 1,792.08.

Trading was heavy, with 2.4 billion shares changing hands, the most in three weeks. Turnover also hit a three-week high of 4.5 trillion yen ($40.12 billion).

Hopes that the Bank Of Japan may buy exchange-traded funds helped sentiment, traders said.

Banking shares gained, with Mitsubishi UFJ Financial Group and Mizuho Financial Group both adding 1.6 percent. Nomura Holdings soared 3.0 percent and Daiwa Securities Group advanced 1.4 percent.

Semiconductor equipment manufacturer Tokyo Electron Ltd slipped 1.1 percent, electronics products maker Panasonic Corp shed 1.3 percent and Hitachi Ltd declined 1.0 percent.

Overnight, the Nasdaq posted its biggest one-day drop in more than three months as investors fled high-flying technology stocks and shifted to banks. ($1 = 112.1700 yen) (Reporting by Ayai Tomisawa; Editing by Richard Borsuk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below