TOKYO: Tokyo's benchmark Nikkei index jumped nearly one percent on Tuesday as chip-related shares surged, taking a positive lead from rallies in US tech stocks.
The Nikkei 225 index rose 0.95 percent, or 204.09 points, to close at 21,620.88, while the broader Topix index was up 0.80 percent, or 12.45 points, at 1,568.82.
"Semiconductor shares led today's gain after US high-tech shares surged overnight," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.
On Monday, the Nasdaq rallied, with large technology shares gaining ahead of earnings reports and semiconductor stocks surging on expectations the sector is primed for good results.
"Investors were also encouraged by news reports that the US and China were prepared to resume trade negotiations," Horiuchi told AFP.
Investors were waiting for the International Monetary Fund's economic outlook due later Tuesday for clues about the impact of the US-China trade spat on the global economy, it said.
The dollar fetched 108.16 yen in Asian afternoon trade, against 109.91 yen in New York.
In Tokyo, chip-related shares were higher tracking the US high-tech sector. Electronic parts maker Murata Manufacturing jumped 2.47 percent to 4,800 yen with chip testing equipment maker Advantest up 0.90 percent at 3,330 yen and industrial robot maker Fanuc up 2.39 percent at 19,485 yen.
Asahi Group Holdings rebounded 2.35 percent to 4,699 yen following a plunge of nearly 9 percent after the world's leading brewer Anheuser-Busch InBev said Friday it was selling its assets in Australia for 16 billion Australian dollars (US$11.3 billion) to Asahi.
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