* Nikkei trades 6 pct above 25-day moving average
* TDK soars on news it is in talks to buy U.S. chipmaker
By Ayai Tomisawa
TOKYO, Dec 12 Japan's Nikkei share average rose
to a fresh one-year high on Monday morning helped by strong Wall
Street performance and a weak yen, while investors picked up
defensive stocks that were lagging behind in the recent rally.
By mid-morning break, the Nikkei rose 0.8 percent to
19,142.82 after hitting as high as 19,280.93, the highest level
since mid-December last year.
Shares in the food sector and other defensive stocks staged
a rally as traders say investors are picking up shares in
sectors that have lagged in the month-long rally since Donald
Trump's presidential election. The rally may continue through
the year end unless there is a negative surprise in the U.S.
Federal Reserve's decision this week, they added.
"Although people are worried that the market is being
overbought in a short period of time, they started to think that
the Nikkei may continue rising and end this year at the highest
level this year," said Hikaru Sato, a senior technical analyst
at Daiwa Securities.
The Nikkei is trading about 6 percent above its 25-day
moving average of 18,051. A level above 5 percent is seen as
The Fed is widely expected to hike interest rates for the
first time in 2016 at a two-day meeting that begins on Tuesday.
The dollar edged up 0.1 percent to 115.43 yen after
earlier touching 115.55 yen, its loftiest peak since February,
boosting the overall mood.
Food stocks, which were lagging behind the rises in
exporters and financials, were higher. Kikkoman Corp
jumped 7.1 percent and Ajinomoto Co soared 5.0 percent.
Utility stocks also gained ground, with Tokyo Gas
rising 4.7 percent and Osaka Gas advancing 2.3 percent.
Railroad stocks were stronger, with East Japan Railway
gaining 1.7 percent and West Japan Railway surging 3.4
Separately, TDK Corp jumped 3.7 percent after
sources said that the company is in talks to buy U.S. chipmaker
InvenSense Inc that produces motion sensors for Apple
Inc and Samsung Electronics Co.
The broader Topix added 0.2 percent to 1,528.43 and
the JPX-Nikkei Index 400 advanced 0.3 percent to
(Reporting by Ayai Tomisawa)