Nikkei inches higher; Apple suppliers, chip-related shares outperform

  • Reuters
  • Stock Market News
Nikkei inches higher; Apple suppliers, chip-related shares outperform
Credit: © Reuters.

TOKYO, Aug 20 (Reuters) - Japanese shares edged up on Tuesday as investors tiptoed back into equities, amid signs of a slight easing of trade tensions between the United States and China and continued hopes for fresh stimulus moves by major economies.

On Monday, Washington extended a reprieve that permits China's Huawei Technologies HWT.UL to buy components from U.S. companies by 90 days, to supply existing customers. Nikkei share average .N225 rose 0.4% to 20,642.72, while the broader Topix .TOPX added 0.5% to 1,501.95 by the midday break.

On Wall Street, all three major stock indexes gained overnight, with Apple AAPL.O jumping 1.9% to provide the biggest boost to the Nasdaq. .N/C

This helped Tokyo-listed Apple suppliers, with Taiyo Yuden 6976.T and TDK Corp 6762.T rising 1.1% and 1.0%, respectively, and Foster Electric 6794.T advanced 1.3%.

After speaking with Apple's chief executive Tim Cook on Sunday, U.S President Donald Trump said the CEO "made a good case" that tariffs could hurt Apple, given that Samsung's products would not be subject to those same tariffs. chipmaking-related firms also got a boost after the U.S. Philadelphia semiconductor index .SOX climbed 1.9% on Monday as Huawei's U.S. chip suppliers, such as Micron Technology MU.O , rose.

Semiconductor manufacturing equipment maker Screen Holdings 7735.T surged 3.8% and chipmaking equipment supplier Tokyo Electron 8035.T rallied 1.1%. Semiconductor test equipment supplier Advantest 6857.T gained 1.4%.

Rate-sensitive TSE REIT index .TREIT rose 0.5%, extending its winning streak to an eighth day to hit its fresh 12-year highs since 2007. for additional stimulus helped sentiment after media reports said Germany is prepared to increase fiscal spending, and after the People's Bank of China took steps to lower corporate borrowing costs by setting a new lending reference rate.

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