July 25, 2019 / 1:45 AM / 5 months ago

Japan's Nikkei rises as Wall St hits record highs, Advantest rallies

TOKYO, July 25 (Reuters) - The Nikkei share average made modest gains on Thursday after Wall Street rose overnight to record highs, as investors in Japan showed retraint ahead of policy decisions by the European Central Bank later in the day and the Federal Reserve next week.

The Nikkei was up 0.4% at 21,797.49 as of 0130 GMT after touching 21,823.07, its highest since May 7.

Chip equipment maker Advantest Corp surged 18% after earnings released the previous day showed that the company’s decline in April-June sales was not as steep as feared earlier thanks to steady demand linked to 5G networks and artificial intelligence.

Other technology shares were supported after their U.S. peers gained overnight and propelled the Nasdaq and S&P 500 to fresh record peaks.

Semiconductor product manufacturer SUMCO Corporation rose 2%, electronic component maker Rohm Co added 1.15% and Tokyo Electron advanced 1.5%.

Index heavyweight SoftBank Group was up 2.7% after reports that the conglomerate is expected to announce a $40 billion investment into its technology-focused Vision Fund.

The broader Topix was up 0.19% at 1,578.00. (Editing by Simon Cameron-Moore)

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