TOKYO, Oct 16 (Reuters) - Japanese shares rallied to more than 10-month highs on Wednesday as a weaker yen lifted blue-chip exporters, while chip-related stocks advanced, taking their cue from Wall Street peers.
The benchmark Nikkei average rose as much as 1.8% to 22,615.47, its highest intra-day level since Dec. 3 in early trade, following gains of 1.9% on Tuesday. It ended the morning session up 1.5%.
The broader Topix added as much as 1.6% to 1,646.09, also a more than a 10-month high, after posting another 1.6% gain the previous day. It rose 1.1% by the midday break.
Overnight, the Japanese yen hit a 2-1/2 month low of 108.90 yen against the greenback as investors flocked to riskier assets on hopes of an orderly British exit from the European Union.
Yen-sensitive automakers were in demand, with Toyota Motor Co rising 1.2% and Mazda Motor jumping 2.3%.
Among other blue-chip exporters, NIDEC advanced 2.3%, Mitsubishi Electric soared 3.5% and Omron climbed 2.7%.
Chipmaking-related firms also got a boost after the U.S. Philadelphia semiconductor index hit a record high and NVIDIA soared 5.3% on Tuesday.
In Tokyo, Tokyo Electron added 1.8%, Advantest jumped 3.7% and Screen Holdings climbed 2.4%.
Elsewhere, Unizo Holdings surged 4.8% after private equity firm Blackstone ratcheted up its pursuit of the Japanese hotel operator by launching a 5,000-yen-per-share tender offer. (Reporting by Tomo Uetake; Editing by Jacqueline Wong)