Nikkei rises, real estate and chip-related firms lead; JDI soars

Shutterstock photo

TOKYO, Dec 8 (Reuters) - Japanese stocks rose on Friday morning on gains for most sectors after Wall Street climbed overnight, while Japan Display jumped on hopes that Apple may use liquid crystal technology on one of its new smartphones.

The Nikkei 225 share average .N225 advanced 1.0 percent to 22,715.31 in midmorning trade, comfortably staying above the forecast settlement price of December Nikkei futures JNIc1 and options 0#JNI*.OS contracts at 22,590.66. urn:newsml:reuters.com:*:nL3N1O801R

For the week, the Nikkei has fallen 0.4 percent so far. Earlier this week, the market was hammered by news U.S. President Donald Trump will recognise Jerusalem as Israel's capital and set in motion the relocation of the U.S. Embassy to the ancient city, a move many feared could fuel violence in the Middle East.

Japan Display Inc6740.T , which has been earning half its revenue selling liquid crystal displays (LCD) to Apple IncAAPL.O , rocketed as much as 12 percent after the Nikkei business daily reported that Apple may use LCD for one of its three new smartphones it is planning to release late next year. urn:newsml:reuters.com:*:nL3N1O81AO

The broader Topix .TOPX gained 0.8 percent to 1,800.18, with all of its 33 subsectors in positive territory.

(Editing by Shri Navaratnam) ((ayai.tomisawa@thomsonreuters.com; 81-3-6441-1875; Reuters Messaging: ayai.tomisawa.thomsonreuters.com@reuters.net))


This article appears in: Stocks , World Markets , Politics

More from Reuters


See headlines for 0#JNI*

Research Brokers before you trade

Want to trade FX?