April 2, 2014 / 6:10 AM / in 4 years

Nikkei hits 3-week high on weak yen, Renesas jumps on Apple news

TOKYO, April 2 (Reuters) - Japan's Nikkei share average rose
to a fresh three-week high on Wednesday as sentiment was helped
by a weakening yen, while Renesas Electronics Corp 
jumped on news that it is in talks with Apple Inc and
other potential buyers to buy its stake in a smartphone display
chip unit.
    Renesas soared as much as 19 percent to 934 yen - its
highest since March 2011 - before ending up 6.0 percent.
    Renesas is considering selling its 55 percent stake in
Renesas SP Driver which makes semiconductors that control
displays, sources told Reuters. 
    The Nikkei ended up 1.0 percent at 14,946.32, the
highest closing level since March 11.
    The broader Topix rose 0.6 percent to 1,211.36. The
JPX-Nikkei Index 400, a gauge comprised of companies
with a high return on equity and robust corporate governance,
added 0.6 percent to 10,966.92.

 (Reporting by Ayai Tomisawa; Editing by Jacqueline Wong)
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