Nikkei rises for 5th day as risk appetites stay solid
* Nikkei poised for biggest weekly gain since mid-April
* Some blue-chips still trading below book value
By Ayai Tomisawa
TOKYO, July 1 (Reuters) - Japan's Nikkei share average rose on Friday for a fifth day as bargain hunting continued and risk appetites remained solid after U.S. and European shares gained.
The Nikkei gained 0.8 percent to 15,701.61 in midmorning trade.
Japanese stocks have erased about the half of their losses in the wake of Britain's shock vote a week ago to leave the European Union.
For the week, the Nikkei has jumped 4.9 percent, the biggest weekly gain since mid-April.
"Excessive fears for the global economy have receded," said Takuya Takahashi, a strategist at Daiwa Securities, adding that he does not see Britain's vote to leave the European Union as leading to a global financial crisis.
Shares of securities firm gained ground, with Nomura Holdings rising 2.8 percent and Daiwa Securities advancing 1.2 percent. Continuación...