March 30, 2018 / 2:40 AM / a year ago

Nikkei rises as tech shares rebound, but poised for sizable Q1 losses

TOKYO, March 30 (Reuters) - Japanese stocks rose on Friday morning as technology firms such as Tokyo Electron and Advantest jumped in sympathy with a rebound in their U.S. counterparts, which were battered this week on concerns over possible government regulation.

The Nikkei rose 1.0 percent to 21,364.75 in midmorning trade. For the week, the index has gained 3.6 percent so far, though down 3.2 percent for the month and has tumbled 6.1 percent on a quarterly basis.

Volume is expected to be thin on Friday, as markets were shut for the long Easter weekend break in many of the world's largest trading centers.

Recently-battered semiconductor equipment makers rebounded, with Tokyo Electron up 3.3 percent and Advantest Corp 1.8 percent higher.

Silicon maker Sumco gained 2.3 percent.

On the other hand, Japan Display Inc dropped more than 4 percent after the company said its board will discuss on Friday a plan to raise 50 billion yen ($470 million), including more than 30 billion yen through a third-party allotment of new shares.

The broader Topix gained 0.5 percent to 1,711.66. (Reporting by Ayai Tomisawa Editing by Shri Navaratnam)

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