Japanese stocks jump, trade optimism lifts China-linked shares

  • Reuters
  • Stock Market News
Japanese stocks jump, trade optimism lifts China-linked shares
Credit: © Reuters.

By Shinichi Saoshiro

TOKYO, Aug 30 (Reuters) - Japanese stocks rallied on Friday on signs the United States and China might resume full-scale negotiations ahead of an approaching deadline for additional U.S. tariffs.

Chinese commerce ministry spokesman Gao Feng told reporters on Thursday that Beijing hopes Washington can cancel the planned tariff increase to avoid an escalation in the trade war. U.S. President Donald Trump said some discussions took place on Thursday, with more talks scheduled. 0119 GMT, the Tokyo's benchmark Nikkei index .N225 was up 1.1% at 20,686.54, having lost a modest 0.09% on Thursday.

Shares linked to China gained on the hopeful signs for U.S.-China trade talks, which have waxed and waned over the past months and kept global markets on edge.

Hitachi Construction Machinery Co 6305.T and Komatsu Ltd 6301.T rallied 1.8% and 1.6%, respectively.

Robot maker Fanuc Corp 6954.T jumped 3%, gaining the most among the top 30 names in the core Topix .TOPX . Electrical equipment manufacturer Yaskawa Electric Corp 6506.T advanced 3.8%.

Ryohin Keikaku Co 7453.T , which operates the MUJI chain of household item stores with a heavy presence in China, climbed 1.6%.

There were 205 advancers on the Nikkei index against 17 decliners.

The broader Topix rose 0.99% to 1,504.97.

The underperformers among the Topix 30 were Seven & i Holdings Co 3382.T , down 0.5%, followed by Mitsubishi Estate Co Ltd 8802.T , which lost 0.3%. (Editing by Shri Navaratnam)

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