Nikkei rises, supported by tech shares; Monex jumps

TOKYO: Japan’s Nikkei share average rose on Thursday, buoyed by tech shares, with index heavyweight Tokyo Electron jumping after it forecast strong profits for this fiscal year.
The Nikkei ended 0.5 percent higher at 22,319.61 points.

Semiconductor equipment maker Tokyo Electron jumped 8.4 percent and was the third most traded stock by turnover after it said it expected a 30 percent rise in its operating profit to 366 billion yen for this fiscal year ending March 2019.
It also expects to post a record profit for a third straight year.

The stock, which contributed a hefty 61 positive points to the Nikkei, had been battered in the past month following weakness in tech shares globally, so investors found this an opportunity to buy back.

Other chip-related stocks followed suit. Advantest Corp soared 2.6 percent, silicon maker Sumco Corp surged 3.6 percent and semiconductor equipment maker Screen Holdings advanced 2.8 percent.

Elsewhere, online brokerage Monex Group jumped 18 percent to a daily-limit high of 670 yen.

The parent company of cryptocurrency exchange Coincheck Inc, said Coincheck expects an operating profit of 53.7 billion yen ($491 million) for the fiscal year ended March 2018, compared with 719 million yen in the previous year.
The broader Topix added 0.3 percent to 1,772.13.

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