TOKYO, June 27 (Reuters) - Japan's Nikkei rose for a third
straight session on Monday, lifted by heavyweight technology
stocks, after a surge in Wall Street at the end of last week.
The Nikkei share average closed 1.43% higher at
26,871.27 points, after rising as much as 1.7% The broader Topix
jumped 1.12% to 1,887.42.
Wall Street's main indexes soared on Friday in a broad rally
as signs of slowing economic growth and a recent pullback in
commodity prices tempered expectations for the Federal Reserve's
"U.S. equities rose on Friday in part investors tried to
adjust their allocations at the end of the half-year after sharp
losses of the Wall Street throughout the month," said Ikuo
Mitsui, fund manager at Aizawa Securities.
"Japanese stocks tracked that but gains were limited as
investors started selling shares as the Nikkei got close to the
27,000 mark. Concerns about economic slowdown due to tightening
monetary policy still remains."
In Japan, technology investor SoftBank Group rose
3.71% and provided the biggest boost to the Nikkei.
Chip equipment maker Tokyo Electron rose 2.23%.
Silicon wafer maker Shin-Etsu Chemical advanced 4.74%
and chip-testing equipment maker Advantest climbed
Shippers jumped 5.87%, rebounding from a 3.1%
drop last week, and led gains among the Tokyo Stock Exchange's
33 industry sub-indexes.
Kawasaki Kisen Kaisha and Nippon Yusen
were the best performers on the Nikkei, rising 9.64% and 5.36%,
Tokyo Electric Power Company Holdings jumped 7.55%
as Japan braced for a possible power crunch amid soaring
temperatures across the country.
Sapporo Holdings rose 0.51%. The beer maker
announced the acquisition of U.S. craft beer maker Stone
The real estate sector lost 0.75% was the worst
performer among the industry sub-indexes.
(Reporting by Junko Fujita; Editing by Amy Caren Daniel)