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Japan’s Nikkei share average edged up on Wednesday morning in choppy trade as gains in chip stocks and other exporters got a boost from steady dollar-yen levels, which offset weakness in such financial stocks as banks, securities and insurers.
The Nikkei gained 0.3 per cent to 21,979.91 in midmorning trade, after dipping in negative territory. The dollar edged up 0.1 per cent to 107.41 yen, having bounced from a 15-month low of 105.545 yen set on Friday.
Chip machine makers outperformed, with Advantest Corp surging 2.8 per cent and Tokyo Electron soaring 1.7 per cent. Sony Corp rose 1.2 per cent, Honda Motor gained 1.3 per cent and TDK Corp surged 2.3 per cent.
Insurance, securities and banking sectors were the three worst performers on the board. Dai-ichi Life Holdings tumbled 1.8 per cent, Nomura Holdings dropped 1.8 per cent and Mitsubishi UFJ Financial Group slid 1.2 per cent. The broader Topix advanced 0.1 per cent to 1,764.77.
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