(Updates at 0600 GMT)
TOKYO, Sept 26 (Reuters) - Japan's Nikkei share average
jumped nearly 3% on Thursday as chip giants Tokyo Electron ( TOELF ) and
Advantest ( ADTTF ) tracked their U.S. peers higher and a weaker yen
boosted exporters.
The Nikkei was up 2.79% at 38,925.63, its biggest
daily percentage gain since Sept. 12. The benchmark has risen
for five out of six sessions.
The broader Topix gained 2.66% to 2,721.12.
"Gains in U.S. chip stocks, particularly those of
Micron's, lifted Japanese chip shares," said Kentaro Hayashi, a
senior strategist at Daiwa Securities.
Shares of Micron Technology ( MU ) surged roughly 14% in
after-hours trade on Wednesday after the company forecast
higher-than-expected first-quarter revenue due demand for its
memory chips used in artificial intelligence computing.
The yen fell to a three-week low of 145.04 per
dollar earlier in the session. A weaker yen is seen as a boon
for Japanese exporters as it lifts profits when earnings from
abroad are brought home.
Chip-making equipment maker Tokyo Electron ( TOELF ) surged
8% and was the biggest boost to the Nikkei. Chip-testing
equipment maker Advantest ( ADTTF ) rose 5.39% and technology
investor SoftBank Group climbed 4.1%.
Sony Group ( SONY ) rose 3.38%.
Nitori ( NCLTF ), a home interior goods retailer that relies
on imports for most materials and tends to move along with the
yen, fell 0.6%.
Meanwhile, minutes from the Bank of Japan's (BOJ) July
policy meeting were not hawkish, boosting investor sentiment,
said Hayashi.
The minutes showed that BOJ policymakers were divided on how
quickly the central bank should raise interest rates further,
highlighting uncertainty on the timing of the next increase in
borrowing costs.
At the July meeting, the BOJ unexpectedly raised short-term
interest rates to 0.25% by a 7-2 vote, taking another step
towards phasing out a decade of huge stimulus.
Of the more than 1,600 stocks trading on the Tokyo Stock
Exchange's prime market, 96% rose and 3% fell on the day.