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Japan's Nikkei rises as US court halts Trump tariffs, chipmakers rally
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Japan's Nikkei rises as US court halts Trump tariffs, chipmakers rally
May 28, 2025 6:36 PM

TOKYO, May 29 (Reuters) - Japan's Nikkei share average

climbed on Thursday after a U.S. federal court blocked President

Donald Trump's tariffs from going into effect, while a rally in

chip-related stocks following positive earnings from Nvidia also

lifted the index.

As of 0045 GMT, the Nikkei was up 1.4% at 38,238.02.

The broader Topix rose 1.24% to 2,803.96.

The Manhattan-based Court of International Trade ruled that

Trump overstepped his authority by imposing across-the-board

duties on imports from nations that sell more to the United

States than they buy.

The U.S. dollar surged following the court decision, pushing

the yen down 0.74% to 145.96 against the greenback in early

Thursday trading.

A weaker yen tends to benefit local stocks, as it boosts the

yen value of overseas earnings for Japanese companies when those

profits are repatriated.

Chip-related shares jumped after Nvidia beat

quarterly sales expectations, with Advantest ( ADTTF ) and Tokyo

Electron ( TOELF ) rising 3% each.

Cable maker Fujikura ( FKURF ), a gauge for AI investments,

rose 4.5% to become the top percentage gainer in the Nikkei.

Automakers advanced, with Toyota Motor ( TM ) rising 3%,

helping to lift the auto and auto parts sector by

2.5%, making it the top performer among the Tokyo Stock

Exchange's 33 industry sub-indexes.

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