Japan stocks gain as yen, Nasdaq boost exporters and tech shares
* Nikkei up 0.91 pct, Topix gains 0.4 pct
* Exporters lifted as yen weakens for 3rd day vs dollar
* Gains by U.S. peers lift tech shares
By Shinichi Saoshiro
TOKYO, Sept 11 (Reuters) - Japanese stocks rose on Tuesday,
with exporters lifted by the yen's weakening against the dollar
and technology shares taking heart from gains in their American
The Nikkei share average was 0.91 percent higher at
During morning trade the index briefly touched 22,614.87,
its highest since Sept. 5.
"The yen's depreciation is the key driver, with gains by the
S&P 500 and Nasdaq providing additional support," said Yutaka
Miura, senior technical analyst at Mizuho Securities.
"Trade friction remains a concern, but the United States is
yet to activate the tariffs on 200 billion dollars worth of
Chinese imports, allowing for some short covering to kick in and
lift the Nikkei."
The yen slipped against the dollar for the third day,
Toyota Motor Corp rose 1.8 percent, Panasonic
gained 0.9 percent and Tokyo Electron was up
1.6 percent. Bridgestone Corp added 0.5 percent.
Technology shares climbed as their U.S. counterparts bounced
overnight following last week's large losses, with the
tech-heavy Nasdaq climbing 0.3 percent.
Renesas Electronics Corp was up 5.7 percent after
the company said on Tuesday it had agreed to buy U.S. peer
Integrated Device Technology Inc for about $6.7
billion, aiming to boost its expertise in self-driving car
Advantest Corp rose 2.7 percent, SUMCO Corp
advanced 2.4 percent and Screen Holdings
climbed 3 percent. Kyocera Corp was up 1.8 percent.
Shares of Kaga Electronics Co rose 5.5 percent
after the semiconductor manufacturer announced that it would buy
Fujitsu Electronics from Fujitsu Semiconductor for 20.54 billion
yen ($184 million).
Samco Inc, a manufacturer of equipment used to make
electronic components, gained 5.1 percent after reporting
strong earnings, with sales for the year through July 2018
surging 74.9 percent from the previous year to 5.47 billion yen.
Suminoe Textile co rose 6.1 percent after the
company said it will repurchase 500,000 shares, or 6.6 percent
of outstanding stock.
Of Tokyo's 33 sub-indexes, 25 were in positive territory.
The broader Topix added 0.4 percent to 1,694.41.
($1 = 111.4300 yen)
(Reporting by Shinichi Saoshiro
Editng by Eric Meijer)
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