April 21, 2017 / 6:35 AM / in 9 months

Nikkei rises to 1-1/2 week highs, but Fujifilm stumbles on probe

TOKYO, April 21 (Reuters) - Japanese stocks rose to 1-1/2 week highs on Friday as global investors bet that U.S. tax reforms are gaining traction, but Fujifilm Holdings tumbled after delaying the release of its earnings because of an accounting probe.

The Nikkei 225 share average gained 1.0 percent to 18,620.75, its highest closing level since April 11.

For the week, it gained 1.6 percent, posting its first weekly gain in six weeks.

Traders said sentiment was lifted by overnight comments from U.S. Treasury Secretary Steven Mnuchin, who said the Trump administration will “very soon” unveil a tax reform plan and expects it will be approved by Congress this year whether a healthcare overhaul happens or not.

The dollar held steady versus the yen at 109.32 yen after rising 0.4 percent on Thursday, lifting automakers and other exporters.

However, Fujifilm Holdings Corp tumbled 4 percent after it postponed its earnings report over an investigation into accounting practices at an overseas unit.

The broader Topix gained 1.1 percent to 1,488.58 and the JPX-Nikkei Index 400 advanced 1.1 percent to 13,321.58. (Reporting by Ayai Tomisawa; Editing by Eric Meijer)

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