September 11, 2019 / 2:35 AM / 10 months ago

Japan shares at 6-week high as banks, exporters, Apple suppliers shine

TOKYO, Sept 11 (Reuters) - Japanese stocks rose to a six-week high on Wednesday as bank shares extended recent gains thanks to rising bond yields, while major exporters reaped the rewards of a faltering yen.

Suppliers to Apple Inc also gained after the California-based tech company announced a new lineup of iPhones.

At 0152 GMT, the Nikkei index was up 0.45% at 21,489.40 after earlier rising to 21,504.04, the highest since Aug. 1.

There were 193 advancers on the benchmark index against 30 decliners.

The largest percentage gainers were Fukuoka Financial Group Inc, up 7.48 %, followed by Concordia Financial Group Ltd gaining 6.33% and Resona Holdings Inc up by 5.94%.

The broader Topix rose 0.87% to 1,571.52.

Japanese mega-bank shares rallied. Mitsubishi UFJ Financial Group Inc was up 3.87%, Sumitomo Mitsui Financial Group Inc rose 2.54%, and shares in Mizuho Financial Group Inc climbed 1.52%.

Yields on major government bonds have risen sharply recently, which eases the path for Japan's banks to earn profits on lending.

Toyota Motor Corp rose 0.9%, Honda Motor Co climbed 1.76% and Subaru Corp gained 1.4% as a weaker yen boosts exporters' earnings.

Japan-based Apple suppliers Murata Manufacturing Co rose 1.54%, Alps Alpine Co jumped 3.05%, and Minebea Mitsumi Inc advanced 1.93%.

Daiichi Sankyo Co, down 3.72%, was among the largest percentage losses in the Nikkei index (Editing by Shri Navaratnam)

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