May 17, 2016 / 6:16 AM / 2 years ago

Nikkei rises on Wall Street strength, yen weakness

TOKYO, May 17 (Reuters) - Japanese stocks rose on Tuesday after investor appetites were increased by a strong performance on Wall Street, higher oil prices and a weaker yen.

The Nikkei share average climbed 1.1 percent to end the day at 16,652.80.

The U.S. dollar strengthened and ended the Tokyo trading day above 109 yen, boosting the profit outlook for Japan’s exporters. Home appliance and electronics exporter Panasonic Corp ended the day 1.7 percent higher.

Japan-based suppliers of parts for Apple Inc’s iPhone were higher after the tech giant’s stock soared on an investment from Warren Buffett’s Berkshire Hathaway.

Japan Display Inc shares ended the day 2.5 percent higher while Minebea Co rose 2.6 percent.

Cosmetics maker Shiseido Co gained 2.1 percent after Daiwa Securities raised its rating for the stock to “outperform” from “neutral”.

Sony Financial Holdings bucked the day’s strength and tumbled 4.9 percent after the insurance company reported its net profit for the year ended March 2016 fell 20 percent from a year earlier.

The broader Topix rose 1.1 percent to end the day at 1,335.85 with all but one of its 33 subindexes in positive territory.

The JPX-Nikkei Index 400 climbed 1 percent to 12,086.52. (Reporting by Joshua Hunt; Editing by Richard Borsuk)

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