TOKYO, Jan 17 (Reuters) - Japan"s Nikkei share average rose on Monday, as a sustained rally in oil lifted energy shares, while chipmakers followed their U.S. peers higher. The Nikkei (.N225) gained 0.69% to 28,318.54 as of the midday break, rebounding after touching its lowest intraday level since Dec. 6 on Friday at 27,889.21. About 10 stocks advanced for every one that fell on the benchmark index. The energy sector led gains with a 2.53% jump. The broader Topix (.TOPX) added 0.42%. The Topix growth share index (.TOPXG) added 0.28%, after dipping to its lowest intraday level since mid-August at the end of last week. The value index (.TOPXV) gained 0.55%, and touched its highest intraday level since late September. "Over-sold growth stocks are being bought back," said Naoki Fujiwara, a fund manager at Shinkin Asset Management. "At the same time, the shift from growth stocks to value stocks is also continuing." Uniqlo store operator Fast Retailing"s (9983.T) 1.47% rally made it the Nikkei"s biggest gainer by index points, followed by chip giants Tokyo Electron (8035.T) and Advantest , which rose 0.81% and 1.87%, respectively. Peer Renesas (6723.T) rose 2.72%. On Friday, the U.S."s Philadelphia SE Semiconductor Index jumped 2.33%. Wall Street is shut on Monday for a national holiday. In addition, local media reported that the Japanese government will set up a subsidy program to assist companies developing chips, large-capacity batteries and other strategic products. SoftBank Group (9984.T) and Toyota Motor (7203.T) also helped the Nikkei higher, with respective 1.06% and 0.98% advances. Nintendo (7974.T) gained 1.39%.