Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
The U.S. government on Monday temporarily eased some trade restrictions imposed recently on China's Huawei, a move that sought to minimize disruption for the telecom company's...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
Stocks in Asia mostly recovered in Tuesday afternoon trade as investors cheered a reprieve in U.S.-China trade tensions surrounding Chinese telecommunications giant Huawei.Asia Marketsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
Huya, a Chinese live streaming platform focused on gaming, is looking to expand into the U.S. in the next couple of years, CEO Rongjie Dong told CNBC. The U.S. is expected to...Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
* Renewed optimism on U.S.-China trade talks lifts mood
* Shippers, machine makers lead gains
* Japan Display jumps on Apple Watch news
TOKYO, April 3 (Reuters) - Japanese stocks rose on Wednesday as optimism over U.S.-China trade talks boosted shippers and other cyclical shares while index heavyweight Fast Retailing soared after it reported strong monthly sales.
The Nikkei share average rose 0.97 percent to 21,713.21, edging closer to its best level this year of 21,860.39 touched a month ago.
Shippers, among the biggest casualties of the U.S.-China trade war, gained 2.8 percent to near one-month highs, with Kawasaki Kisen rising 5.6 percent.
The Financial Times reported that top U.S. and Chinese officials have resolved most of the issues standing in the way of a deal to end their long-running trade dispute but are still haggling over how to implement and enforce the agreement, citing people briefed on the talks. (https://www.ft.com/content/d6ac5082-5582-11e9-91f9-b6515a54c5b1)
The report came on the heels of U.S. President Donald Trump's comment that the trade talks with China were going very well.
"The market is supported by hopes that both sides will land some kind of agreement," said Hiroyuki Ueno, a senior strategist at Sumitomo Mitsui Trust Asset Management.
But he said that investors were reluctant to take positions aggressively this month as they prefer to await Japanese companies' annual results due to be reported in May.
Other cyclical stocks, including chip-related firms, machinery makers and security brokers, led the gains.
Shinetsu Chemical rose 4.3 percent, TDK gained 3.4 percent and Fanuc Corp advanced 2.7 percent.
Japan Display jumped 6.3 percent to a 10-week high after Reuters reported the cash-strapped firm will begin to supply organic light-emitting diode (OLED) screens for the Apple Watch later this year.
Fast Retailing Co soared 5.4 percent after it said on Tuesday that same-store sales at its Uniqlo clothing outlets in Japan rose 4.5 percent in March from a year earlier.
Japanese media reports that the operator of the Uniqlo casual clothing chain will raise starting salaries for new hires in Japan by more than 20 percent from April next year also helped the share. (https://www3.nhk.or.jp/nhkworld/en/news/20190403t07/)
As the firm has an 8.8 percent weighting in the Nikkei, that helped the benchmark index outperform the broader Topix, which rose 0.63 percent to 1,621.77.
The start-up market, Mothers Index, rose 1.2 percent from a three-week low hit the previous day. (Additional reporting by Hideyuki Sano Editing by Jacqueline Wong)