December 8, 2017 / 2:19 AM / a year ago

Nikkei rises, real estate and chip-related firms lead; JDI soars

TOKYO, Dec 8 (Reuters) - Japanese stocks rose on Friday morning on gains for most sectors after Wall Street climbed overnight, while Japan Display jumped on hopes that Apple may use liquid crystal technology on one of its new smartphones.

The Nikkei 225 share average advanced 1.0 percent to 22,715.31 in midmorning trade, comfortably staying above the forecast settlement price of December Nikkei futures and options contracts at 22,590.66.

For the week, the Nikkei has fallen 0.4 percent so far. Earlier this week, the market was hammered by news U.S. President Donald Trump will recognise Jerusalem as Israel’s capital and set in motion the relocation of the U.S. Embassy to the ancient city, a move many feared could fuel violence in the Middle East.

Friday’s big gainers included real estate and chip-related stocks. Realtor Sumitomo Realty & Development rose 2.9 percent, silicon wafer maker Sumco jumped 2.6 percent, while semiconductor equipment maker Tokyo Electron soared 2.5 percent.

Japan Display Inc, which has been earning half its revenue selling liquid crystal displays (LCD) to Apple Inc , rocketed as much as 12 percent after the Nikkei business daily reported that Apple may use LCD for one of its three new smartphones it is planning to release late next year.

The broader Topix gained 0.8 percent to 1,800.18, with all of its 33 subsectors in positive territory.

Editing by Shri Navaratnam

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