Nikkei rises to 1-1/2-week high on U.S. gains, Intel forecast
* U.S. M&A activity boosts confidence in market - fund manager * Intel supplier Shinko Electric soars to 6-month high By Ayai Tomisawa TOKYO, July 17 (Reuters) - Japan's Nikkei share average rose to a 1-1/2-week high on Thursday, buoyed by gains on Wall Street, while Shinko Electric Industries Co jumped on Intel Corp's strong forecast. The Nikkei rose 0.4 percent to 15,443.56 points in mid-morning trade after hitting as high as 15,465.74, the highest level since July 7. U.S. markets rose after Twenty-First Century Fox Inc said it had offered to buy Time Warner Inc for $80 billion, a move that would unite two of the world's most powerful media conglomerates. But Time Warner rebuffed the offer. "Investors had doubts about further gains in the U.S. stock market after momentum shares fell yesterday. We were prepared to see a correction in the U.S. market," said Takatoshi Itoshima, chief portfolio manager at Commons Asset Management. "But such M&A and partnership deals have energised sentiment and boosted confidence." Shinko Electric, which supplies such products as plastic laminated packages and heat spreaders to Intel, soared 6.2 percent to a six-month high after the world's largest chipmaker forecast quarterly revenue above analysts' estimates. Some 41 percent of Shinko's group sales came from Intel for the year ended March 2014. Exporters were mixed after the dollar was flat against the yen at 101.65. Toyota Motor Corp added 0.4 percent, Honda Motor Co shed 0.2 percent, and Advantest Corp advanced 0.5 percent. The broader Topix gained 0.4 percent and the JPX-Nikkei Index 400 added 0.4 percent to 11,632.15. (Editing by Kim Coghill)
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