TOKYO, June 11 (Reuters) - Japan's Nikkei share gauge
climbed for a fourth straight session on Wednesday after U.S.
and Chinese officials agreed on a framework to put their trade
truce back on track and remove China's curbs on rare earths,
supporting demand for risk assets.
Chip-sector heavyweights Sumco ( SUMCF ) and Tokyo Electron ( TOELF )
surged 7% and 3.6%, respectively. Mazda Motor ( MZDAF )
climbed 1.2% as the yen weakened, boosting export shares.
The Nikkei 225 Index climbed 0.5% as of the midday
break, set for its longest winning streak in about a month. So
far, it is down 4.2% for the year. The broader Topix gauge
was flat.
U.S. President Donald Trump's on-again, off-again tariff
spats have largely been factored into global equity prices, but
Japanese stocks have yet to recover to highs seen around the
beginning of the year, said Tatsunori Kawai, chief strategist at
Mitsubishi UFJ eSmart Securities.
After meetings by the Bank of Japan and the Federal Reserve
next week, summer salary bonuses and company dividends in Japan
may be factors to push domestic shares higher.
"With those funds in the pipeline, I think the inflow of
money into the market will continue," Kawai said. "After we get
through next week, I think it's basically easier to go higher
and catch up with U.S. equities."
Sumco ( SUMCF ) was the biggest gainer on the Nikkei, followed by
Isetan Mitsukoshi ( IMHDF ) gaining 6.2%.
The biggest loser was Hino Motors ( HINOF ) down 17%, after
the truckmaker and unit of Toyota Motor ( TM ) said it would
issue new shares as part of a merger agreement with Mitsubishi
Fuso.