TOKYO, Sept 25 (Reuters) - Japan's Nikkei share average
edged up in choppy trade on Wednesday, buoyed by Wall Street
strength overnight, while profit-taking reined in gains as
investors awaited fresh drivers.
The Nikkei was up 0.3% at 38,068.22, by the midday
break, while the broader Topix gained 0.1% to sit at
2,660.55.
The S&P 500 and Dow ended at record highs on Tuesday, as
mining stocks surged following China's announcement of a
sweeping stimulus package, despite initially trimming gains
after an unexpected decline in U.S. consumer confidence in
September.
The tech-heavy Nasdaq also finished up, with the
Philadelphia SE Semiconductor index surging more than 1%
to boost Japanese chip-related shares on Wednesday.
Advantest ( ADTTF ) climbed 4.8% and was the biggest boost to
the Nikkei. Tokyo Electron ( TOELF ) was up 0.4% after gains
narrowed as profit-taking kicked in.
But the dollar/yen trading in a narrow range and analysts
citing a lack of fresh drivers capped gains for the local
stocks.
The market was also ripe for profit-taking after the Nikkei
rallied for a fourth straight session to a three-week closing
high in the previous session, supported by the Bank of Japan's
dovish slant.
"We're in a situation where it's tough to find good material
today," said Kazuo Kamitami, a strategist at Nomura Securities.
However, a strong performance by machinery-related shares
after China's stimulus boost on Tuesday stood out, he added.
Machinery was up 2.5% to lead gains among the
Tokyo Stock Exchange's 33 industry groups.
Daikin Industries ( DKILF ) rose nearly 6% and was among the
top gainers on the Nikkei, just behind electrical equipment
maker Yaskawa Electric Corp ( YASKF ), up 7.8%, and cosmetic firm
Shiseido Co ( SSDOF ), adding 6.4%.
Toyota Motor ( TM ) rose 1.8%, after the automaker bought
back some of its own shares during morning trade.