Japan's Nikkei rises as tech stocks rally ahead of Warsh speech
EWJ•Topix gains and broader sentiment
The broader Topix .TOPX added 0.7% to 4,146.71.
For the week, the Nikkei gained 0.6%, while the Topix advanced around 2%.
Japanese tech stocks were supported by gains for Wall Street peers overnight, with the Philadelphia SE semiconductor index .SOX rallying 2.3% on Thursday.
However, sentiment was restrained by rising bond yields as oil prices ticked higher amid continued uncertainty in the Middle East. Data on Friday also showed inflationary pressures creeping higher in Tokyo, bolstering the case for a Bank of Japan interest rate hike.
Warsh speech awaited at Jackson Hole
Warsh is slated to speak later in the day at the Fed's annual symposium in Jackson Hole. Three Fed officials have already sounded the alarm about sticky inflation but the new central bank chief has resisted providing forward guidance about where interest rates are going.
"There's a wait-and-see attitude in the Japanese stock market ahead of Warsh's Jackson Hole speech, with investors wanting to hear what he has to say before making investment decisions," which kept trading relatively subdued, said Maki Sawada, a strategist at Nomura Securities.
Nikkei closes higher as tech stocks lead
TOKYO, Aug 28 (Reuters) - Japan's Nikkei share average rose on Friday, lifted in large part by tech stocks, although gains were capped by simmering concerns about inflation and uncertainty about what Federal Reserve Chair Kevin Warsh might signal in his speech at Jackson Hole.
The Nikkei .N225 rose 0.4% to close at 66,405.56.
Chip-testing equipment heavyweight Advantest 6857.T advanced 1.9% to be the index's biggest support, followed by online staffing agency Recruit 6098.T, which climbed 4.9%.




