TOKYO, March 23 Reuters Japanese equities advanced on Tuesday as investors bought chiprelated shares following a tech rebound on Wall Street overnight, while automakers rebounded from sharp losses in the previous session.

The Nikkei share average added 0.61 to 29,350.93 by 0144 GMT, while the broader Topix gained 0.39 to 1,997.94.

The Japanese market does not have an independency. Its been obvious these days. Whats happened overnight in the U.S. is happening in Japan a day after, said Koichi Kurose, chief strategist at Resona Asset Management.

Chiprelated shares advanced, tracking the techheavy Nasdaq which outpaced the SP 500 and the Dow overnight as 10year U.S. Treasury yields eased from 14month highs.

Tokyo Electron and TDK Corp added 3.28 and 1.84, respectively, while ShinEtsu Chemical gained 1.37 and Advantest advanced 1.21. Nikon Corp rose 3.15.

Japan Exchange Group jumped 3.55 after the operator of the Tokyo Stock Exchange raised its fullyear net profit forecast to 51.5 billion yen 473.17 million from 45.5 billion yen.

Automakers rebounded from Mondays losses, which were driven by concerns around potential chip shortages due to a fire at a plant of semiconductor supplier Renesas Electronics. Toyota Motor rose 1.24, while Suzuki Motor and Nissan Motor jumped 2.83. Renesas gained 3.08.

Transport shares declined, with Kawasaki Kisen Kaisha down 5.75 and ANA Holdings Inc losing 3.76.

Seven i Holdings Co Ltd was up 2.76 and Daiichi Sankyo, which gained 2.11,…