Japan shares rebound on renewed U.S.-China trade deal hopes

  • Reuters
  • Stock Market News
Japan shares rebound on renewed U.S.-China trade deal hopes
Credit: © Reuters.

TOKYO, Nov 15 (Reuters) - Japan's Nikkei share average rebounded on Friday after White House comments suggesting Washington and Beijing were close to striking a trade deal sparked buying in cyclical and financials.

The Nikkei 225 index .N225 rose 0.71% to 23,305.71, though it was slightly down for the week. The broader Topix .TOPX gained 0.8% to 1,697.83.

White House economic adviser Larry Kudlow said on Thursday an agreement with China could be reached soon, providing a fillip to investor confidence. shares, or those that are sensitive to economic cycles, such as shippers .ISHIP.T and brokerages .ISECU.T , were among the biggest gainers.

Other gainers included companies whose results surprised positively.

Japan Post Insurance 7181.T , hit by a scandal involving improper sales practices, rose 5.8% after it posted strong profits.

Another scandal-ridden financial institution, Suruga Bank 8358.T , also advanced 6.4% after its results.

Kadokawa 9468.T climbed 5.9% to 2 1/2-year highs after the publishing and web services company raised its profit outlook.

Asahi Intecc 7747.T rose 4.4% after the medical equipment maker's quarterly profits beat market expectations.

Among losers, Line 3938.T fell 4.5% and Z Holdings 4689.T declined 5.1% after massive gains the previous day on news that the two technology firms are in merger talks.

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