(Updates with details and closing prices)
TOKYO, April 8 (Reuters) - Japan's Nikkei share average
closed 6% higher on Tuesday, recovering from a 1-1/2-year low
hit in the previous session, as investors scooped up stocks,
encouraged by signs of a recovery on Wall Street.
The Nikkei index climbed 6.03% to 33,012.58, marking
its sharpest daily percentage gain since August 6.
The broader Topix also recorded a more than 6% gain,
closing at 2,432.02.
"Investors bought back stocks as they thought the shares
were oversold. They saw signs of a market recovery as U.S. stock
futures rose in Japan trade," said Takamasa Ikeda, senior
portfolio manager, GCI Asset Management.
The S&P 500 and the Dow closed lower, while the
technology-heavy Nasdaq posted marginal gains on Monday
following a roller coaster session.
U.S. semiconductor index climbed 2.7% overnight,
while S&P and Nasdaq futures each rose more than
1% in Asia trade on Tuesday, signalling cues of a recovery.
Both the Nikkei and Topix are down roughly 13% from levels
before U.S. President Donald Trump's Liberation Day tariff
announcement, raising concerns about the impact on
export-dependent Japan.
Japanese Prime Minister Shigeru Ishiba said on Monday that
during a phone call with Trump, he expressed disappointment with
the tariff policies and urged him to reconsider.
The gains are not sustainable as there are still
uncertainties surrounding the Japanese corporate outlook and the
global economy, said Naoki Fujiwara, senior fund manager at
Shinkin Asset Management.
"I think today's jump was led by speculative investors who
bought futures. And their bets will control the market move for
a while," said Fujiwara.
Nikkei and Topix futures surged overnight trading,
triggering trading halt by a circuit breaker by the Japan
Exchange Group's ( OSCUF ) Osaka bourse.
Among individual stocks, chip-making equipment maker Tokyo
Electron ( TOELF ) jumped 8.7% and chip-testing equipment maker
Advantest ( ADTTF ) surged 11.8%.
Cable maker Fujikura ( FKURF ), a gauge for data centre
investments, surged 19.4%.
Bank shares advanced, with Mitsubishi UFJ Financial Group ( MUFG )
surging 10.7% and Mizuho Financial Group ( MFG ) up
13.5%.
All 33 industry sub-indexes of the Tokyo Stock Exchange
(TSE) posted gains, with the non-ferrous sector
jumping nearly 12% to become the top gainer.
Of the more than 1,600 shares traded on the TSE's prime
market, 99% closed in green.