(Updates prices to close)
TOKYO, March 14 (Reuters) - Japan's Nikkei share average
changed course to end higher on Thursday, as heavyweight
chip-related stocks narrowed early losses and energy shares
gained.
The Nikkei closed 0.29% higher at 38,807.38, after
three straight sessions of losses. The index fell as much as
0.76% earlier in the session.
The broader Topix rose 0.49% to 2,661.59.
"Japan's major chip stocks mirrored the weak performance of
U.S. chip stocks. It looks like the fever for Nvidia ( NVDA ) is over,"
said Shigetoshi Kamada, general manager at the research
department at Tachibana Securities.
"For the Nikkei to cross the 40,000 level again, Tokyo
Electron ( TOELF ) and its peers need to get a boost."
The S&P 500 and Nasdaq edged lower overnight as
investors took profits in chipmaker stocks. The index of
semiconductors lost 2.5%, with shares of Nvidia ( NVDA ).
which propelled a sharp rally in Japanese chip-related shares,
slipping 1.1%.
The Nikkei crossed 40,000 for the first time earlier this
month, driven by gains of chip-making equipment maker Tokyo
Electron ( TOELF ) and chip-testing equipment maker Advantest ( ADTTF )
.
On Thursday, Tokyo Electron ( TOELF ) and Advantest ( ADTTF ) fell 0.45% and
2.35%, respectively.
Utility firms rose 4.12% to become the top
performer among the 33 industry sub-indexes on the Tokyo Stock
Exchange, with Tokyo Electric Power Holdings jumping
6.76%.
Energy explorers rose 4.09%, with Eneos Holdings ( JXHGF )
gaining 5.32%.
Nissan Motor ( NSANF ) jumped 2.23% after a local television
network TV Tokyo reported that the automaker is considering
seeking a business partnership with Honda Motor ( HMC ), while
the Nikkei business daily said they could collaborate on
electric vehicles.
Honda ( HMC ) rose 1.13%.
Uniqlo-owner Fast Retailing ( FRCOF ) rose 1.62% to become
the biggest support for the Nikkei.
Of the 225 components on the Nikkei, 174 stocks rose, while
51 fell.