The Financial Express

Nikkei to rise; Japan Display Inc jumps

| Updated: December 11, 2017 11:44:39

Evaly and Fianancial Express Evaly and Fianancial Express
File Photo (Collected) File Photo (Collected)

Japanese stocks rose Friday, ended the week nearly flat, on gains for most sectors. 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.

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, reports Reuters.

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.

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