Japan’s Nikkei share average rose on Friday, extending its weekly advance as softer-than-expected US producer prices eased concerns over an imminent Federal Reserve rate hike and supported broader risk appetite, Reuters reported.The benchmark Nikkei 225 gained 0.85% to 68,889.01 by the midday break and was on track for a weekly gain of around 5%. The broader Topix rose 0.69% to 4,204.99, putting it on course for a record closing high.US stocks rallied overnight after data showed producer prices were unchanged in July, strengthening expectations that the Federal Reserve will keep interest rates steady at its next meeting. The S&P 500 and Nasdaq both ended at record highs.Strength in US equities was spilling over into Japanese markets, while lower crude oil prices and fading expectations of an early US rate increase were also supporting sentiment toward Japanese shares.Among Nikkei 225 constituents, 145 stocks advanced, while 77 declined and one was unchanged.Shift was the top percentage gainer, rising 6.74%, followed by Nintendo, which climbed 6.59%. Sony Group advanced 5.35%.On the losing side, Isetan Mitsukoshi Holdings fell 5.25% and was headed for its steepest one-day decline since December. Ibiden dropped 4.08%, while Chugai Pharmaceutical declined 3.75%.The gains in Japanese equities reflected stronger global risk appetite as investors continued to assess the outlook for US monetary policy and inflation.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.)