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Tokyo shares rise on optimism US may ease Huawei ban

A woman walks by an electronic stock board of a securities firm in Tokyo, on July 23, 2019. (AP Photo/Koji Sasahara)

TOKYO (Kyodo) -- Tokyo stocks rose Tuesday as investors' risk appetite grew on expectations the United States may ease its trade ban on China's Huawei Technologies Co.

The 225-issue Nikkei Stock Average ended up 204.09 points, or 0.95 percent, from Monday at 21,620.88. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 12.45 points, or 0.80 percent, higher at 1,568.82.

Gainers were led by marine transportation, textile and apparel, and oil and coal product issues.

Technology issues with heavy exposure to the Chinese market were bought after the White House said Monday that President Donald Trump agreed with executives from top U.S. technology firms to make timely decisions on requests by U.S. companies to sell their products to Huawei.

"The market welcomed the news as it came at a time when prolonged uncertainty over the U.S.-China trade row has clouded the global economic outlook," Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management Co.

A report by U.S. online news magazine Politico about possible U.S.-China ministerial trade talks next week also helped lift market sentiment, Ichikawa added.

The news on Huawei and the reported trade talks more than offset concern over a report by The Washington Post that Huawei may have breached U.S. export controls by supplying North Korea with wireless network equipment, said Chihiro Ota, general manager of investment research at SMBC Nikko Securities Inc.

On the First Section, advancing issues outnumbered decliners 1,640 to 422, while 88 ended unchanged.

Among technology issues, fiber maker Toray Industries gained 23.00 yen, or 3.0 percent, to 789.20 yen, ceramic component manufacturer Taiyo Yuden rose 53 yen, or 2.4 percent, to 2,229 yen and industrial robot maker Fanuc finished up 455 yen, or 2.4 percent, at 19,485 yen.

Shipping issues advanced on a rise in the Baltic Exchange Dry Index, which measures trends in raw materials shipping costs. Kawasaki Kisen climbed 86 yen, or 6.5 percent, to 1,418 yen, Mitsui O.S.K. Lines surged 82 yen, or 3.1 percent, to 2,695 yen, and Nippon Yusen gained 50 yen, or 2.8 percent, to 1,842 yen.

Trading volume on the main section rose to 919.51 million shares from Monday's 905.30 million shares.

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