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Nikkei hits 6-year high as chip stocks rise

Thu Feb 1, 2007 8:43pm EST

Stocks

   

(Updates to late morning)

TOKYO, Feb 2 (Reuters) - The Nikkei share average hit its highest in more than six years on Friday as investors bet that some chip-related stocks, such as Kyocera Corp. (6971.T), had fallen too far in recent sessions. Shares of SUMCO Corp. (3436.T) gained ground following a report the silicon-wafer maker plans to invest $3 billion to more than triple its output capacity for advanced 300-millimetre wafers by 2010.

The Nikkei .N225 was up 114.11 points at 17,633.61 as of 0142 GMT, its highest since July 2000.

The broader TOPIX index was up 0.66 percent at 1,750.10, after hitting its highest since May 2006.



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