Japanese equities gather as a result of the US market and the yen rises

TOKYO (Reuters) – Japanese stocks rose on Tuesday, boosted by a recovery in the US market and a weaker yen supporting exporters, but new concerns over trade tensions between China and the United States limited gains.

The Nikkei benchmark <.N225> was up 0.64% to 21,952.40. The index peaked in two weeks and posted gains for the third session. The broader Topix index <.TOPX> rose 0.73% to 1,644.16 points.

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Japanese equity gains were relatively modest compared to the US recovery on Monday night, when the Dow Jones rose 1.46% and Nasdaq 2%.

"Thanks to the gains in US stocks, Nikkei could have gone up, but the for-profit sales pressure is very strong," said Masahiro Ichikawa, chief analyst at Sumitomo Mitsui Asset Management. "The market will not regain confidence before the US-China weekend summit".

In an interview with The Wall Street Journal, US President Donald Trump said he hoped to raise tariffs on Chinese imports by $ 200 billion, from 25% to 10% today.

Trump, who is scheduled to meet Chinese President Xi Jinping on the sidelines of the G20 summit in Argentina early next week, said he would charge a fee to the rest of China's imports if negotiations failed.

Lin's share in the instant messaging application has increased by 12.9%.

The shares jumped on reports that the company would partner with Tencent Holding to provide mobile payment services and create a bank with Mizuho Financial Group.

Technological stocks were boosted by the good performances on Monday night of their American counterparts. Tokyo Electron grew by 1.8% and Advantest Corp by 2%.

(Reuters)