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Japanese stocks rose on Tuesday as deterioration in the Bank of Japan's tankan survey was less than expected, and gains were led by blue-chip exporters and Apple-related shares. The benchmark Nikkei average advanced 0.6% to 21,885.24, while the broader Topix climbed 1.0% to 1,603.00, with all but two of its 33 subindexes finishing higher.

Blue-chip exporters were high, with Honda Motor, Panasonic and Bridgestone Corp advancing 2.5%, 2.9% and 2.2%, respectively. On Monday, Wall Street stocks rallied, with all three major indexes rising, helped by gains in Apple Inc. Apple rose 2.4% after chief executive Tim Cook told a German daily that sales of its newest iPhones were off to a strong start, while J.P Morgan raised its forecast for shipment volumes.

Tokyo-listed Apple-related shares were in demand on Tuesday. Murata Manufacturing Co, TDK Corp and Minebea Mitsumi jumped 2.8%, 2.7% and 4.7%, in that order. By sector, paper and pulp, rubber products and sea transport were among the top performing subsector indexes on the Topix, up 2.8%, 2.3% and 2.1%, respectively.

Copyright Reuters, 2019


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