TOKYO, Feb 18 (Reuters) - Japan's Nikkei share average
rose on Wednesday, set to snap a four-day losing streak, as
technology firms that are seen as involved in Japan's $550
billion U.S. investment project gained.
The Nikkei rose 1% to 57,131.89 as of 0135 GMT and
the broader Topix was up 1.35% at 3,812.39.
President Donald Trump's administration on Tuesday announced
three projects valued at $36 billion to be financed by Japan,
including an oil export facility in Texas, an industrial
diamonds plant in Georgia, and a natural gas power plant in
Ohio.
The projects are the first investments under Japan's $550
billion U.S. investment pledge as part of a trade deal that cut
Trump's tariffs on Japanese imports to 15%.
"Investors have been buying those stocks related to the
Trump deal in the past several days," said Takamasa Ikeda,
senior portfolio manager at GCI Asset Management.
Electronic components TDK jumped 6.67%, while fibre
optic cable makers Fujikura ( FKURF ) and Furukawa Electric ( FUWAF )
rose 3.2% and 2.75%, respectively.
Technology investor SoftBank Group ( SFTBF ), which is expected
to be part of the project, fell 1.89% after the artificial
intelligence sector was excluded from the list of initial
projects.
Other decliners included memory chip maker Kioxia ( KXHCF ),
which slipped 3.64% to track a 5.7% drop in U.S. memory chip
maker Sandisk ( SNDK ) overnight.
Chip-testing equipment maker Advantest ( ADTTF ) fell 0.84%.
Financial stocks rose, becoming the largest contributor to
the Topix's gain.
Mitsubishi UFJ Financial Group ( MUFG ) and Sumitomo Mitsui
Financial Group ( SMFG ) rose more than 3% each. Mizuho
Financial Group ( MFG ) gained 1.8%.
Of more than 1,600 stocks trading on the Tokyo Stock
Exchange's prime market, 76% rose, and 20% fell, while 3% traded
flat.