REFILE-Japan stocks edge up to 13-mth high on U.S.-China trade hopes, weaker yen

(Corrects to fix typo in para 7 to UFJ, not UGJ)
By Tomo Uetake
TOKYO, Nov 6 (Reuters) - Japan's benchmark Nikkei share
average inched up to a fresh 13-month high on Wednesday as hopes
for a U.S.-China trade deal, a weaker yen and rising bond yields
buoyed exporters and financials.
The Nikkei average .N225 ended up 0.1% at 23,303.82
points, its highest close since Oct. 10 last year.
The broader Topix .TOPX ended marginally higher at
1,694.45, its strongest close in more than a year, after giving
up earlier gains as profit taking kicked in.
Overnight, the U.S. 10-year Treasury yield US10YT=RR
climbed as high as its six-week peak of 1.873% and Germany's
20-year yield rose into positive territory for the first time in
3-1/2 months on optimism that the United States and China will
scale back a bruising trade war. On Wednesday, the dollar held the upper hand against its
rivals, particularly versus safe-haven yen, with the pair last
trading at 109.06 yen JPY= , not far from its October high,
providing a boost for Japanese exporters as a weak yen enhances
corporate profits when they are repatriated. Export-oriented Hitachi 6501.T advanced 2.1%, Mitsubishi
Motor 7211.T rose 1.5% and Kyocera 6971.T gained 1.4%.
The interest rate-sensitive financial sector also
outperformed, with T&D Holdings 8705.T jumping 4.2%, Dai-ichi
Life Holdings 8750.T and Mitsubishi UFJ Financial Group
8306.T also adding 1.7% and 0.9%, respectively.
"Hot money players, such as commodity trading advisors (CTA)
and some macro hedge funds, have been building long positions in
U.S. and Japanese stocks," said Masanari Takada, cross-asset
strategist at Nomura Securities.
"Those players seem to be betting on further upside ahead of
a potential trade agreement between the United States and
China."
Mid-year earnings season continued in full gear in Japan.
Suzuki Motor 7269.T shed 3.6% after the automaker's
quarterly profit plunged by almost a third on slumping car
demand in India, its biggest market. It also slashed its
full-year vehicle sales outlook. Asahi Group Holdings 2502.T dived 6.1% after the brewer
lowered its forecast for full-year operating profit and year-end
dividend, citing unfavourable weather and currency moves.
Kyushu Railway 9142.T soared 3.7% after it announced its
first ever share buyback of up to 10 billion yen, after
receiving proposals from New York-based investment firm, Fir
Tree Partners.