Nikkei index jumps as chip stocks rally ahead of Sino-US talks
Japan's Nikkei share average advanced on Monday ahead of trade talks between the U.S. and China in London later in the day, with investors watching for any easing of restrictions on semiconductor shipments.
ADVERTISEMENT Both countries are under pressure to relieve tensions, with China dominating global exports of rare earth minerals needed for chips and other advanced technologies, which it has restricted, while the U.S. has curtailed exports of chip-design software to China.
A phone call between U.S. President Donald Trump and Chinese counterpart Xi Jinping on Thursday led to the Monday talks, with Trump later saying rare earth supply would no longer be a problem for the United States.
The Nikkei rose 0.92% to 38,088.57 at the close.
The broader Topix rose 0.58%. A sub-index of growth shares rallied 0.79%, outpacing a 0.38% rise in value shares. Chip-testing equipment maker and Nvidia supplier Advantest was the Nikkei's biggest gainer in index-point terms with a 4.86% climb. Another chip company, Socionext, soared 7.34% to be the top performer in percentage terms.
ADVERTISEMENT "The trade talks in London are, at the very least, a step in the direction of easing restrictions on chip shipments between the U.S. and China," buoying the sector on Monday, said Yunosuke Ikeda, chief macro strategist at Nomura. Artificial intelligence-focused startup investor SoftBank Group advanced 4.98%. Chip-making device manufacturer Disco climbed 3.24%.
ADVERTISEMENT Another standout was Otsuka Holdings, which jumped 5.27% after the drugmaker said its experimental therapy for a potentially life-threatening kidney disease more than halved severe levels of protein in patients' urine. At the other end, iSpace fell by its daily limit of 20% for a second straight session after it failed in its second attempt to put a lunar lander on the moon last week.
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Indian Express
31 minutes ago
- Indian Express
Before China's rare earth curbs, India's permanent magnet imports nearly doubled in FY25
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Time of India
31 minutes ago
- Time of India
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Time of India
35 minutes ago
- Time of India
UK financial regulator partners with Nvidia in AI 'sandbox'
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