TOKYO, June 27 (Reuters) - Japanese shares rose 1% on
Monday, lifted by heavyweight chip companies, after a surge in
Wall Street at the end of last week.
The Nikkei share average rose 1.04% to 26,768.77 by
the midday break. The broader Topix climbed 0.82% to
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, chip-making equipment maker Tokyo Electron
rose 1.88%. Silicon wafer maker Shin-Etsu Chemical
advanced 4.2% and chip-testing equipment maker
Advantest climbed 3.11%.
Shippers jumped 4.97% and led gains among the
Tokyo Stock Exchange's 33 industry sub-indexes.
Kawasaki Kisen Kaisha surged 7.74% and Nippon Yusen
Tokyo Electric Power Company Holdings jumped 6.71%,
as Japan braced for a possible power crunch amid rise in
temperatures across the country.
Sapporo Holdings rose 1.05%. The beer maker
announced the acquisition of U.S. craft beer maker Stone
The real estate sector lost 0.82% was the worst
performer among the industry sub-indexes.
The volume of shares traded on the Tokyo Stock Exchange's
main board was 0.58 billion, compared to the average of 1.31
billion in the past 30 days.
(Reporting by Junko Fujita; Editing by Amy Caren Daniel)