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* Nikkei has gained 2.7% so far this week
* Yaskawa and Fanuc hope for trade deal between China and China
* Foreign net sellers of Japanese stocks from March 25 to 29 – TSE
By Ayai Tomisawa
TOKYO, April 5 (Reuters) – Japan's Nikkei hit a new one-month high on Friday morning, hoping that a trade deal between the United States and China would support risk appetite, thereby increasing the shares of companies that depend on Chinese demand.
Nikkei's average share rose 0.3% to 21,787.48 in the middle of the morning, after reaching 21,839.18, its highest level since March 4th. For the week, the benchmark rose 2.7%.
Quoting Chinese Vice Premier Liu He, the Xinhua News Agency reported that President Xi Jinping had said that progress was being made and called for a swift conclusion of the negotiations.
US President Donald Trump said on Thursday that trade talks with China were going well and that he would only agree to a "good" deal as the negotiators had settled their differences before the Trump meeting. and the Chinese Vice Premier on Thursday.
Shoji Hirakawa, chief strategist of Tokai Tokyo Research Institute, said investors "have already been inspired by the signs of progress in the negotiations and that if an agreement is reached, it could further stimulate the market stock ".
Investors are also waiting for the US March payroll report, which is expected to rebound from 180,000 in March, following the distorted 20,000 rise in February.
Data from the US Department of Labor showed that jobless claims fell to their lowest level in 49 years last week, indicating sustained strength in the labor market.
Friday's winners were companies dependent on Chinese demand. Yaskawa Electric jumped 2.6%, Hitachi Construction Machinery 1.8% and Fanuc Corp 1.5%.
Japan Post Insurance climbed 5.9% after announcing Thursday that the group would buy 50 million shares against 100 billion yen (895.4 million dollars).
Also on Thursday night, its holding company, Japan Post Holdings, announced that it would sell nearly a third of its stake in an offer worth about $ 3.7 billion. dollars, with the aim of advancing the privatization of the Japan Post Group.
Foreigners were net sellers of Japanese stocks for the second consecutive week ended March 29, the decline in US bond yields fueled fears of a recession in the United States.
Foreign investors sold 857.5 billion yen net of Japanese equities, including spot shares and futures contracts, representing their largest weekly turnover since October 26, 2018 , according to data from Japanese stock exchanges.
The larger Topix rose 0.4% to 1,625.70. ($ 1 = 111.6800 yen) (Edited by Richard Borsuk)
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