Japan shares rise sharply on Trump's tariff delay; Apple suppliers soar

By Tomo Uetake
TOKYO, Aug 14 (Reuters) - Japanese stocks on Wednesday
recouped nearly all of the previous day's sharp losses, thanks
to Washington delaying the start of tariffs on some Chinese
imports.
President Donald Trump's move gave a much-needed reprieve
for markets, with Japan's chipmaking sector and Apple-related
firms getting the strongest tailwind.
The Nikkei share average .N225 gained 1.0% to 20,655.13,
recovering most of its 1.1% fall on Tuesday, while the broader
Topix .TOPX rose 0.9% to 1,499.50.
While the White House's announcement on the tariff delay
prompted a relief rally on Asian markets, some analysts suspect
this might be short-lived.
"Markets are responding with muted relief to the latest
round in the trade saga - but nothing has really changed,"
Robert Carnell, ING's Asia-Pacific head of research said in a
note to clients.
Trump backed off his Sept. 1 deadline for 10% tariffs on all
Chinese goods not yet subject to them, delaying duties on
cellphones, laptops and other consumer goods, in the hopes of
blunting their impact on U.S. holiday sales. In the U.S., shares of likely beneficiaries of the 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.
Taiyo Yuden 6976.T leaped 6.3%, while Murata Manufacturing
6981.T and TDK Corp 6762.T climbed 3.3% and 4.3%,
respectively.
Semiconductor manufacturing equipment maker Screen Holdings
7735.T rallied 6.0% and chipmaking equipment supplier Tokyo
Electron 8035.T added 1.1%.
Nintendo 7974.T rallied 4.3% as game consoles are included
in Trump's temporary exemption list. The gaming firm plans to
launch "Switch Lite" in September.
Other notable movers included Nikkei heavyweight Fanuc
6954.T , up 2.0%, buoyed by an unexpected big rebound in
Japan's June machinery orders, in a possible sign corporate
investment remains resilient in the face of slowing global
growth and international trade frictions.