TOKYO, June 4 (Reuters) - Japanese stocks snapped a
three-session skid on Wednesday after the yen weakened and hopes
rose for a potential trade deal that could reopen the technology
markets with China.
The benchmark Nikkei 225 Index closed 0.8% higher,
while the broader Topix added 0.5%. Gainers outnumbered
decliners on the Nikkei, with 138 stocks advancing versus 82
ending in the red.
Chip sector heavyweights Advantest ( ADTTF ) and Disco
rose 1.9% and 1.2%, respectively, following U.S. tech
shares' overnight gains.
Nintendo ( NTDOF ) jumped 3.4% ahead of the debut of its
much-anticipated Switch 2 console on Thursday.
Nvidia ( NVDA ) and other chipmakers drove gains in U.S.
stocks overnight ahead of the talks between U.S. President
Donald Trump and China's leader Xi Jinping this week to address
tariff and trade disputes that have roiled global markets.
The trend of rising semiconductor stocks spread to the
Japanese stock market on the day along with hopes of progress in
trade talks, Wataru Akiyama, a strategist at Nomura Securities,
said.
"Semiconductor-related shares are on the rise due to
expectations of strong results stemming from chip demand centred
around AI."
The yen was little changed at 143.94 per dollar,
after a 0.9% slide on Tuesday, benefiting exporters.
The United States is expecting countries to make their best
offers on trade negotiations by Wednesday as sweeping tariffs
loom. However, Japan has not received a letter from the U.S.
seeking its best proposals on trade talks, Chief Cabinet
Secretary Yoshimasa Hayashi said.
Toyota Industries ( TYIDF ) slid 12% after Toyota Motor ( TM )
said it would take the forklift maker private in a $33
billion deal, much lower than the amount indicated in earlier
media reports. Toyota Motor's ( TM ) shares climbed 1.9%.
The largest percentage gainers on the Nikkei were Furukawa
Electric ( FUWAF ), up 6.3%, followed by Tokuyama ( TKYMF ), which
gained 6%.
The biggest losers were BayCurrent ( BYCRF ), down 2.3%,
followed by Yamato Holdings ( YATRF ), which shed 1.8%.
(Rocky Swift in Tokyo; Editing by Sumana Nandy and Sonia
Cheema)