(Adds comments, updates with closing prices)
By Junko Fujita
TOKYO, Nov 12 (Reuters) - Japan's Nikkei share average
rose on Wednesday, extending gains after SoftBank Group trimmed
losses, while Sony Group ( SONY ) helped the broader Topix to close at a
fresh high on a robust annual profit forecast.
The Nikkei closed 0.43% higher at 51,063.31 in
choppy trade. The broader Topix jumped 1.14% to a record
high close of 3,359.33.
SoftBank Group ended 3.46% lower, after falling
10%, as the technology investor disclosed its sale of Nvidia ( NVDA )
stake for $5.8 billion.
Heavyweight chip-related shares fell, with Advantest ( ADTTF )
and Tokyo Electron ( TOELF ) down 0.23% and 1.55%,
respectively.
"SoftBank Group pared losses, while investors bought stocks
across various sectors, which helped the Nikkei to end higher,"
said Shota Sando, market analyst at Tokai Tokyo Intelligence
Laboratory.
TDK, maker of electronic components, jumped 4.92%
to become the biggest source of the Nikkei's gains, while
drugmaker Chugai Pharmaceutical ( CHGCF ) rose 4.37%.
Mitsui Kinzoku ( XZJCF ), a maker of materials for
AI-data centres, surged 23.27% after raising its annual profit
forecast by 75%.
"The optimism surrounding artificial
intelligence-related shares is still alive as investors scooped
up AI-related shares with strong outlook," said Hitoshi Asaoka,
chief strategist at Asset Management One.
Sony ( SONY ) rose 3.67% after the game and audio equipment
maker raised its operating profit forecast for the year ending
March 2026 by 8%.
Bank shares rose, with Mitsubishi Financial Group
and Sumitomo Mitsui Financial Group ( SMFG ) gaining 3.38% and
1.95%, respectively.
Of the more than 1,600 stocks trading on the Tokyo Stock
Exchange's prime market, 78% rose, 19% fell and 2% traded flat.
Sumco ( SUMCF ) tanked 20.16% to become the biggest
percentage loser on the Nikkei, after the silicon producer
forecast a 16.9 billion yen annual net loss, bigger than
analysts' expectations of a 5.2 billion yen loss.