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Japan's Nikkei surges as trade optimism lifts tech; Toyota Industries plunges
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Japan's Nikkei surges as trade optimism lifts tech; Toyota Industries plunges
Jun 3, 2025 8:24 PM

TOKYO, June 4 (Reuters) - Japanese stocks climbed,

snapping a three-day skid, after the yen weakened and glimmers

of hope emerged for a trade deal that will reopen technology

markets with China.

Chip sector heavyweights Tokyo Electron Ltd ( TOELF ) and

Advantest Corp ( ADTTF ) rose 1.5% and 1.3%, respectively,

following gains in U.S. tech shares overnight. Nintendo ( NTDOF )

jumped as much as 3.6% ahead of the debut of its

much-anticipated Switch 2 console on Thursday.

Nvidia and other chipmakers drove gains in U.S. stocks ahead of

expected talks this week between U.S. President Donald Trump and

Chinese leader Xi Jinping to address tariff and trade disputes

that have roiled global markets.

The benchmark Nikkei 225 Index climbed 1% as of the

morning break while the broader Topix added 0.7%. There

were 173 advancers on the Nikkei index against 49 decliners.

"This trend of rising semiconductor stocks is spreading to

the Japanese stock market today along with expectations of

progress in trade negotiations," said Wataru Akiyama, a

strategist at Nomura Securities.

The yen was little changed at 143.94 per dollar,

after a 0.9% slide in the previous session, benefiting

exporters.

The United States is expecting countries to make their best

offers on trade negotiations by Wednesday as sweeping tariffs

loom. Even so, Japan has not yet received a letter for its best

proposals, the chief government spokesperson said.

Toyota Industries ( TYIDF ) sank as much as 13% after

automaker Toyota Motor ( TM ) said it will take the

forklift-maker private in a $33 billion deal, much lower than an

offer indicated in previous media reports. Toyota Motor's ( TM ) shares

climbed 2.2%.

The largest percentage gainers on the Nikkei were Sumitomo

Pharma ( DNPUF ) up 6.2%, followed by Furukawa Electric ( FUWAF )

gaining 4.5%.

The biggest losers were BayCurrent ( BYCRF ) down 2.6%, followed

by Suzuki Motor ( SZKMF ) which lost 1.7%.

(Rocky Swift in Tokyo; Editing by Sonia Cheema)

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