March 27, 2018 / 6:46 AM / 4 months ago

Nikkei rises helped by receding trade war worries, higher U.S. futures

TOKYO, March 27 (Reuters) - Japan’s stocks rose sharply on Tuesday as immediate concerns about trade frictions between the United States and China abated, helping trade-exposed sectors such as chip manufacturers, and following a firm lead from U.S. futures.

The Nikkei ended 2.7 percent higher at 21,317.32.

In U.S. stock futures markets, Dow e-minis were up 122 points, S&P 500 e-minis rose 11.25 points and Nasdaq 100 e-minis gained 37 points.

Tech stocks outperformed, with semiconductor equipment makers Tokyo Electron soaring 2.9 percent and Advantest Corp surging 2.6 percent, respectively.

Japanese stocks, particularly the tech sector, were battered last week after U.S. President Donald Trump decided to impose tariffs on Chinese goods.

Chinese Premier Li Keqiang said on Monday it and the United States should maintain negotiations, reiterating pledges to ease access for American businesses.

Other cyclical stocks such as exporters gained ground after the dollar rose 0.2 percent to 105.59 yen.

Construction equipment maker Komatsu soared 5.1 percent, Panasonic surged 5.0 percent and Toyota Motor Corp gained 3.8 percent.

The broader Topix advanced 2.7 percent to 1,717.13. (Reporting by Ayai Tomisawa; Editing by Sam Holmes)

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