(Updates with closing prices)
By Junko Fujita
TOKYO, July 9 (Reuters) - Japan's Nikkei share average
closed higher on Wednesday, underpinned by a weaker yen, though
gains were limited as investors sold stocks to book profits.
The Nikkei rose 0.33% to 39,821.28, after swinging
between marginal gains and losses during the session.
The broader Topix rose 0.41% to 2,828.16.
"The Nikkei opened higher, supported by the yen's weakness
against the dollar. But as soon as the Nikkei rose closer to the
40,000 level, investors sold stocks to book profits," said
Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence
Laboratory.
"Overall, the market is firm, with the Topix rising.
Investors are rotating their targets day to day."
Automakers rose on the back of the softer yen, with Toyota
Motor ( TM ) and Honda Motor ( HMC ) up 0.91% and 3.35%,
respectively.
The yen weakened 0.2% to 146.96 against the dollar.
The greenback extended gains as U.S. President Donald Trump
pledged more trade-related proclamations after announcing 25%
tariffs on Japan and steps against other trade partners.
A weaker Japanese currency tends to boost shares of
exporters, as it increases the value of overseas profits in yen
terms when firms repatriate them to Japan.
Chip-testing equipment maker Advantest ( ADTTF ) reversed
losses to end 0.23% higher, while the chip-making equipment
maker Tokyo Electron ( TOELF ) slipped 0.33%.
Uniqlo-brand owner Fast Retailing ( FRCOF ) lost 0.76%.
Energy-related shares rose after oil prices hit a two-week
high overnight. An index for oil refiners jumped
2.73% to become the top performer among the Tokyo Stock
Exchange's 33 industry sub-indexes.
Yoshinoya Holdings ( YNOYF ) jumped 6.46% after the fast-food
chain known for "gyudon" beef bowls reported a 9% gain in
quarterly net profit, supported by strong sales of its new ramen
business.
Of the more than 1,600 stocks trading on the TSE's prime
market, 77% rose, 19% fell and 3% traded flat.