TOKYO, June 6 (Reuters) - Japan's Nikkei share average
rose on Friday, as a weaker yen underpinned sentiment, while
demand for the index futures ahead of the fixing of special
quotation prices lifted the benchmark cash index.
The Nikkei was up 0.47% to 37,730.67 by the midday
break and is set to fall 1% for the week.
The broader Topix rose 0.56% to 2,771.81 and is
poised to fall 1.6%.
The Nikkei received technical support ahead of the June 13
fixing of special quotation prices, used to set values on index
options and futures, said Seiichi Suzuki, chief equity market
analyst at Tokai Tokyo Intelligence Laboratory.
"Foreigners, who shorted the Nikkei futures, bought them
back ahead of the fixing day, which also lifted the Nikkei
index," he said.
The Nikkei average futures rose 0.59%.
A weaker yen was also a support for local equities, said
Shigetoshi Kamada, general manager at the research department at
Tachibana Securities.
The yen was last traded down 0.23% at 143.885 per
dollar.
Chip-related heavyweights Tokyo Electron ( TOELF ) and
Advantest ( ADTTF ) rose 1.28% and 0.98%, respectively.
Automakers rose, with Honda Motor ( HMC ) and Nissan Motor ( NSANF )
gaining 1.19% and 1.38%, respectively, while Toyota
Motor ( TM ) inched up 0.17%.
Flea market app operator Mercari ( MRCIF ) jumped 5.94% to
become the top percentage gainer on the Nikkei, while Oriental
Land ( OLCLF ), the operator of Tokyo Disneyland, rose 2.95%.
"When caution persists over the upside of the Nikkei,
investors, particularly individuals, tend to look at smaller and
domestic-led companies," said Tachibana Securities Kamada.
Panasonic Holdings ( PCRFF ), a supplier of batteries for
Tesla, lost 3.58% after Tesla shares plunged 14.3%
Shares of ispace were untraded after the moon
exploration company said that its uncrewed moon lander likely
crashed onto the moon's surface during its lunar touchdown
attempt. The stock reached to a limit-low of 744 yen.