Japan"s Nikkei share average rose on Friday, as chipmaking giants tracked a rally in their U.S. peers and energy shares surged after oil prices dipped. However, gains were capped by a second straight day of losses for SoftBank Group (9984.T). Alibaba Group (9988.HK), SoftBank group"s largest asset, forecast on Thursday its slowest revenue growth since its 2014 trading debut. read more The Nikkei (.N225) added 0.41% to 29,718.62 as of the midday break, with energy by far the best performing sector, jumping 1.79%. The broader Topix (.TOPX) added 0.11%. The growth index (.TOPXG) rose 0.25%, compared with a small loss for the value index (.TOPXV). Chipmaker Tokyo Electron (8035.T) was the Nikkei"s top performing stock, surging 4.88%. Advantest (6857.T) advanced 2.63%. Overnight, the Philadelphia semiconductor index (.SOX) advanced 1.8% to hit its second record close in three sessions, buoyed this time by an earnings beat from Nvidia (NVDA.O). That helped the S&P 500 (.SPX) and Nasdaq (.IXIC) to close at all-time highs. Meanwhile, a dip in crude oil to six-week lows helped energy companies, as well as supporting investor sentiment more broadly. Energy company Inpex (1605.T) advanced 3.11%. "Inflation and the price of crude oil remain a big focus for investors," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management. "The market likes the drop in crude below $80 because it should feed through eventually to lower prices for gasoline and other things, which is seen as a plus for the economy." Elsewhere, Kubota jumped 4.3% on a plan to raise its stake in Indian tractor maker Escorts Ltd (ESCO.NS). read more Sportswear maker Asics (7936.T) rose 2.84% after Japanese Major League Baseball star Shohei Ohtani was named American League MVP. read more The Japanese government"s announcement of a planned $490 billion stimulus package was largely ignored by the market, partly because the details were already reported by local media on Thursday. read more SoftBank Group slid 1.45%, adding to the previous session"s 2% drop. Tokyo Kikai (6335.T) tumbled 8.51% after Japan"s supreme court dismissed a request to block a plan by the printing machinery maker for a "poison pill" takeover defence. read more
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