By Kevin Buckland
TOKYO, April 20 (Reuters) - Japan's Nikkei share average
flipped from early losses to end the morning session with a
small gain on Thursday, as chip-related shares recovered and
retailer stocks rallied amid an increase in foreign visitors.
The Nikkei entered the midday break up 0.09% at
28,631.53, edging back toward Tuesday's nearly six-week high of
28,698.22. The index fell 0.57% at 28,442.45 earlier in the day,
weighed down by weakness on Wall Street. The broader Topix remained slightly in the red,
finishing the morning down 0.06% at 2,039.25, but well above
early losses of 0.55%.
A weakening yen contributed to the improving mood
over the course of the morning, weakening as much as 0.18% to
the cusp of 135 per dollar.
"Although the market is cautious after the Nikkei reached a
high on Tuesday, there isn't really any major negative news to
drive a decline, and the number of losing shares should lessen
over the course of the session," said Maki Sawada, a strategist
at Nomura Securities.
Investors may adopt a more cautious stance in the afternoon,
with closely watched chip-making equipment maker Disco Corp reporting earnings later in the day, she said.
Chip-testing equipment maker Advantest Corp gained
2.2% and chip-making equipment giant Tokyo Electron Ltd rose 1.09%, each adding about 17 points to be the no. 2 and 3
supports for the Nikkei. They began the day in the red, tracking
declines in U.S. peers. Uniqlo store operator Fast Retailing Co Ltd delivered about 41 points with a 1.25% advance.
Fellow retailer Takashimaya Co Ltd was the biggest
percentage gainer, jumping 3.26%.
Among Tokyo Stock Exchange industry sectors, banking and insurance were among the best
performers, rising more than 0.5% each.
On the Nikkei, 118 stocks advanced and 99 fell, with eight
flat.
(Reporting by Kevin Buckland; Editing by Varun H K)
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