Japanese markets gain on easing tariff concerns

Japanese markets advanced on easing tariff concerns and encouraging updates from domestic firms.

The Nikkei average climbed 0.65 percent to 41,059.15 while the broader Topix index settled 0.72 percent higher at 2,987.92.

Financials outperformed, with Mizuho Financial, Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial rising 1-2 percent.

Chip-making equipment maker Tokyo Electron tumbled 2.5 percent to extend losses for a third day running on concerns over a potential slowdown in global chip production as Trump announced plans to impose a tariff of about 100 percent on semiconductor chips imported from countries not producing in America or planning to do so.

 

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