TOKYO, Sept 12 (Reuters) - Japanese shares rose on Thursday,
with the Tokyo Stock Exchange's Topix index hitting a four-month
high, as signs of a thaw in U.S.-China trade frictions lift
cyclical stocks such as machine makers.
The Nikkei share average .N225 rose 0.89% to 21,789.46,
while the broader Topix .TOPX gained 0.73% to 1,595.22,
hitting its highest since early May.
U.S. President Donald Trump said on Wednesday Washington has
agreed to delay increasing tariffs on $250 billion worth of
Chinese imports by two weeks after Beijing said it would exempt
16 types of U.S. products from import tariffs.
Shares of cyclical companies such as manufactures of
semiconductor and robotics, which are seen as closely dependent
on demand in China, rose sharply.
Fanuc Corp 6954.T rose 2.2% and Keyence Corp 6861.T
gained 1.4%. Advantest 6857.T gained 4.4% and Tokyo Electron
8035.T climbed 3.3% to a 15-month high.
The reversal of value-oriented stocks, such as banks and
automakers, that had dominated the market until Wednesday ran
out of steam. Growth stocks .TOPXG led gains with a rise of
0.8%, versus a 0.5% increase in value stocks .TOPXV .
Banking shares .IBNKS.T fell 0.3% after having risen more
than 10% in the previous five sessions. Transport equipment
shares .ITEQP.T , which had risen more than 8% in the last five
sessions, were up 0.3%.
Online fashion retailer Zozo Inc 3092.T rose 15.1%, having
gained as much as 18.9% at one point, after Yahoo Japan Corp
4689.T said it aimed to buy 50.1% of its stake. Yahoo Japan
Corp 4689.T rose 2.4%. Elsewhere, Dai Nippon Printing Co Ltd 7912.T advanced 8%
after the company announced share buyback of up to 60 billion
yen, or 9.94% of its outstanding shares.
(Editing by Subhranshu Sahu)