Nikkei rises helped by gains in real estate, chip-related cos

TOKYO: Japanese stocks rose on Friday on gains for most sectors after Wall Street climbed overnight, while Japan Display jumped on hopes that Apple may use liquid crystal technology on one of its new smartphones.

The Nikkei 225 share average ended 1.4 per cent higher at 22,811.08, staying comfortably above the settlement price of December Nikkei futures and options contracts at 22,590.66.

For the week, the Nikkei was flat. Earlier this week, the market was hammered by news U.S. President Donald Trump will recognise Jerusalem as Israel's capital and set in motion the relocation of the U.S. Embassy to the ancient city, a move many feared could fuel violence in the Middle East.

Friday's big gainers included real estate and chip-related stocks. Realtor Sumitomo Realty & Development rose 3.2 per cent, silicon wafer maker Sumco jumped 4.4 per cent, while semiconductor equipment maker Tokyo Electron soared 2.8 per cent.

Japan Display Inc, which has been earning half its revenue selling liquid crystal displays (LCD) to Apple Inc , ended 8.4 per cent higher after the Nikkei business daily reported that Apple may use LCD for one of its three new smartphones it is planning to release late next year.

The broader Topix gained 1.0 per cent to 1,803.73, with 32 of its 33 subsectors in positive territory.