TOKYO, Aug 14 (Reuters) - Japanese stocks bounced on
Wednesday, after Washington delayed tariffs on some Chinese
imports in much-needed reprieve for markets, with chipmaking
sectors and Apple-related firms enjoying the tailwind the most.
The Nikkei share average .N225 gained 0.6% to 20,584.90,
recouping part of the 1.1% fall the previous day, while the
broader Topix .TOPX rose 0.5% to 1,494.23 by the midday break.
U.S. President Donald Trump on Tuesday backed off his Sept.
1 deadline for 10% tariffs on remaining Chinese imports,
delaying duties on cellphones, laptops and other consumer goods,
in the hopes of blunting their impact on U.S. holiday sales.
The delay in tariffs on a substantial portion of a $300
billion list of remaining Chinese imports sent Wall Street
stocks surging, after steep losses in the past week, with all
three major indexes climbing more than 1.5%. .N
Shares of likely beneficiaries of the tariff delay soared
overnight, with Apple Inc AAPL.O up 4.2% on news that its
iPhone, tablet and laptop computer products would be included in
the items list, while the Philadelphia semiconductor index
.SOX gained 3.0%.
Taking positive cues from this, Tokyo-listed Apple-related
electronic parts makers and chip-related firms jumped.
iPhone suppliers Taiyo Yuden 6976.T leaped 6.3%, while
Murata Manufacturing 6981.T and TDK Corp 6762.T climbed 2.9%
and 4.4%, respectively.
Semiconductor manufacturing equipment maker Screen Holdings
7735.T rallied 6.3% and chipmaking equipment supplier Tokyo
Electron 8035.T gained 1.7%.
Other notable movers include the Nikkei heavyweight Fanuc
6954.T , up 1.6%, buoyed by an unexpected big rebound in
Japan's June machinery orders, in a possible sign corporate
investment remains resilient to slowing global growth and
international trade frictions.
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Japanese stocks rebound on Trump's tariff delay; Apple suppliers shine
Published 08/14/2019, 10:51 AM
Updated 08/14/2019, 11:00 AM
Japanese stocks rebound on Trump's tariff delay; Apple suppliers shine
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