TOKYO, Sept 5 (Reuters) - Japan's Nikkei share average
rose on Friday after U.S. President Donald Trump signed an order
to lower tariffs on Japanese automobile shipments and other
products.
The Nikkei rose 0.73% to 42,890.85 by the midday
break.
The index crossed the 43,000 level for the first time since
August 25 soon after the opening, but it gave up some gains as
investors sold stocks to book profits, strategists said.
The broader Topix rose 0.35% to 3,091.08.
"Investors welcomed the news about Trump's order to lower
tariffs on Japan's exports, but the gains at the open were too
much," said Shuji Hosoi, senior strategist at Daiwa Securities.
Toyota Motor ( TM ) and Honda Motor ( HMC ) rose 0.5% and
0.75%, respectively.
Chip-related shares rose, with Advantest ( ADTTF ) and Tokyo
Electron ( TOELF ) gaining 2.54% and 0.07%, respectively.
Daiwa Securities' Hosoi said the Nikkei could touch the
44,000 level next week, as sentiment was boosted by the lower
tariffs on Japanese products.
The index is also seen rebounding as it fell below its
25-day moving average earlier this week, Hosoi said.
The Nikkei hit a record high in August and traded above the
25-day moving average, a key support level in technical
analysis, for most of the month.
Of more than 1,600 stocks trading on the Tokyo Stock
Exchange's prime market, 57% rose and 37% fell, and 4% traded
flat.