Japan's Nikkei rises over 2% as chip-related stocks track US peers higher
SMH•Nikkei advances as chip stocks lead gains
TOKYO, Sept 7 (Reuters) - Japan's Nikkei rose more than 2% on Monday, as chip-related shares tracked U.S. peers ending higher last week.
The Nikkei share average .N225 was up 2.28% at 66,500.29 as of 0150 GMT, while the broader Topix .TOPX rose 0.81% to 4,136.31.
"With U.S. Treasury Secretary Scott Bessent seemingly curbing bond yields and stemming the fall of the yen, market volatility has fallen," said Mamoru Shimode, chief strategist at Resona Asset Management.
"That has made it easier for stock investors to shift to risk-on mode."
Chip makers jump, while banks and games shares weaken
Chip-testing equipment maker Advantest 6857.T and chip-making equipment maker Tokyo Electron 8035.T rose more than 4% each.
Memory maker Kioxia 285A.T jumped 6.8%.
Wall Street fell on Friday as a robust jobs report raised the probability of the U.S. Federal Reserve raising rates this month, but the semiconductor index .SOX rose 3.4%. .N
Kokusai Electric 6525.T jumped 8% after the Nikkei, the publisher of the 225 stock average, said on Friday it would add the Japanese chip equipment maker to the benchmark from October in a regular reshuffle.
Camera and audio equipment maker Sony Group 6758.T fell 2%.
Gamemakers fell, with Konami Group 9766.T and Bandai Namco Holdings 7832.T falling nearly 2% each.
Bank shares fell, with Mitsubishi UFJ Financial Group 8306.T and Sumitomo Mitsui Financial Group 8316.T falling more than 1% each.
Of more than 1,500 stocks trading on the Tokyo Stock Exchange's prime market, 48% rose, 48% fell, and 3% traded flat.
