TOKYO, Dec 4 (Reuters) - Japan's Nikkei share average
extended gains on Thursday, with robot makers leading the charge
on renewed bets of growth in robotics platforms.
The Nikkei climbed 1.2% to 50,448.83 by 0120 GMT,
taking its year-to-date gains to about 26.5%. The broader Topix
was up 1.2% at 3,374.23.
Robot maker Fanuc ( FANUF ) rose 8%, leading the gains on the
Nikkei. It has surged more than 13% this week after the company
announced a partnership with U.S. chip giant Nvidia ( NVDA ) for
the development of industrial robots.
"The market focus has shifted to robotics-related shares
from chip-related. This means investors keep looking for new
themes," said Kazuaki Shimada, chief strategist at IwaiCosmo
Securities.
Fanuc's ( FANUF ) peer Yaskawa Electric ( YASKF ) jumped 9% to become
the top percentage gainer on the Nikkei, while Nabtesco ( NCTKF )
jumped 10.35% to become the top percentage gainer on the Tokyo
Stock Exchange's (TSE) prime market. Technology investor
SoftBank Group rose 5.6%.
Chip-testing equipment maker Advantest ( ADTTF ) fell 2.23%.
"The market is not rising in a broad-based rally these days,
but if investors sell some shares, they buy others, which means
the money is rotating," Shimada said.
Banks rebounded from the previous session's declines, with
Mitsubishi UFJ Financial Group ( MUFG ) and Sumitomo Mitsui
Financial Group ( SMFG ) up 0.95% and 0.91%, respectively.
Drug maker Sumitomo Pharma ( DNPUF ) fell 3.38% to become the
biggest percentage loser on the Nikkei. Fibre optic cable maker
Furukawa Electric ( FUWAF ) slipped 2.8%.
Of the more than 1,600 stocks trading on the TSE's prime
market, 75% rose, 21% fell, and 3% traded flat.