TOKYO, Dec 5 (Reuters) - Japan's Nikkei share average bounced back on Thursday, with steelmakers leading the gains, after comments from U.S. President Donald Trump revived optimism about trade talks between the United States and China.
The Nikkei 225 index .N225 rose 0.89% to 23,346.05, back above the 25-day moving average of 23,275, a key technical level.
The broader Topix .TOPX gained 0.5% to 1,711.80, just shy of the 13-1/2-month high of 1,719.57 hit late last month.
Topix Core 30 .TOPXC , made up of top 30 firms on the main board, hit a 14-month high.
Trump said negotiations with China were going "very well," fanning the positive mood sparked after a Bloomberg report that Washington and Beijing were closer to agreeing how many tariffs would be rolled back. were the biggest beneficiary of latest splurge in optimism, with the Tokyo Stock Exchange's steel and iron index .ISTEL.T gaining 2.9%. It was the top performer among 33 industry sub-indexes.
Semiconductor related shares also outperformed the benchmark, including Sony 6758.T , which rose the most in over a year. It later pared some gains to rise 0.1%.
Murata Manufacturing 6981.T rose 1.1%, helped by report by Nikkei business daily that the company has developed new electronic parts to be used for 5G smartphones.
Nintendo 7974.T edged up 0.1% and stayed near its 1-1/2-year high, supported by hopes of earnings boost from Switch game console it will launch next week in China. drugmakers, Astellas Pharma 4503.T gained 2.4%, while Daiichi Sankyo 4568.T rose 1.8%.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.