Japan’s Nikkei rose to a fresh three-month high on Monday morning after companies with exposure to China rallied on signs Beijing and Washington were closing in on a trade deal to end their bitter year-long tariff dispute.
The Nikkei share average gained 0.8 percent to 21,770.18 in midmorning trade, after rising to 21,816.74, the highest since Dec. 13. The broader Topix rose 0.5 percent to 1,623.51.
The Topix’s 26 subsectors were up, with machinery, chip-related firms relying on demand from China leading the charge. Yaskawa Electric Corp jumped 4.6 percent, Fanuc Corp rose 3.1 percent, Advantest Corp rallied 3.5 percent and Sumco Corp advanced 3.7 percent. Komatsu Ltd added 2.3 percent and Hitachi Construction Machinery rose 2.4 percent.
Source : Reuters