Nikkei up 1.5 pct, high-tech shares rise on weak yen

Tokyo, Apr 16: The Nikkei average rose 1.52 percent on Monday, led by gains in technology shares such as Canon Inc., as the yen slipped after a weekend Group of Seven meeting, improving the earnings prospects of Japanese exporters.

Chip-related shares such as Shin-Etsu Chemical Co. Ltd.advanced as brokerage Merrill Lynch raised their share price targets citing larger-than-expected increases in volumes and prices of 300-millimetre semiconductor wafers.

But trade volume fell as investors await a string of corporate earnings results and economic indicators due this week in the United States, including CPI and housing starts.

The Nikkei was up 264.35 points at 17,628.30. The broad TOPIX index gained 1.18 percent to 1,725.60.

Reuters