(Updates to market close)
By Rocky Swift
TOKYO, June 11 (Reuters) - Japan's Nikkei share gauge
climbed for a fourth straight session on Wednesday after a
tentative trade truce between the U.S. and China supported
demand for higher-yielding assets.
The Nikkei 225 Index gained 0.6% and logged its
longest winning streak in about a month. Year-to-date, it is
down 4.2%. The broader Topix gauge rose about 0.1%.
Chip-sector heavyweights Sumco ( SUMCF ) and Tokyo Electron ( TOELF )
surged 11% and 4.8%, respectively, on optimism that a
U.S.-China agreement will lead to the lifting of Chinese export
curbs on rare earth minerals critical to high-tech sectors.
Sumco ( SUMCF ) was the biggest gainer on the Nikkei, followed by
Socionext ( SOCNF ), which gained 6.3%.
Mazda Motor ( MZDAF ) climbed 1.2% as the yen weakened,
boosting exporters' shares.
The biggest loser on the Nikkei was Hino Motors ( HINOF ),
which slid 18% to log its steepest daily percentage decline
since October 2023.
The truckmaking unit of Toyota Motor ( TM ) said on
Tuesday it would issue new shares as part of a merger agreement
with Mitsubishi Fuso.
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.
Following next week's meetings of the Bank of Japan (BOJ)
and the Federal Reserve, Japan's summer bonuses and company
dividends could be key catalysts driving 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."