Japan's Nikkei adds to record quarterly gain on tech rebound

Japan's Nikkei adds to record quarterly gain on tech rebound TOKYO, June 30 : Japan's Nikkei share average climbed on Tuesday, powered by a rebound in technology stocks that have helped drive the gauge's record quarterly gains. The benchmark Nikkei 225 advanced 1.36 per cent to 70,416.02 in early trading. The index is poised for a 36 per cent gain in the past three months, the sharpest quarterly advance in data going back to 1965. The broader Topix rose 0.73 per cent to 4,010.88. Japanese stocks tracked a positive tone in global equities after the United States and Iran agreed to halt hostilities and renew talks over the Strait of Hormuz. U.S. stocks ended sharply higher overnight, with the Dow hitting a record closing high. "Reports that working-level talks between the U.S. and Iran are expected to take place should also provide support for stock prices," Sony Financial Group analysts said in a report. "However, as institutional investors are expected to adjust their portfolios ahead of the end of the quarter today, volatile price movements are possible." On the domestic front, Japan's May industrial output data showed factory output rose 0.5 per cent month-on-month, below expectations, while manufacturers forecast a stronger 3.7 per cent increase in June. Foreign exchange is also in focus, with the yen falling to a 40-year low against the dollar overnight. There were 149 advancers on the Nikkei 225 against 72 decliners, and three were unchanged. The largest percentage gainers in the index were Rakuten Group, up 5.39 per cent; Tokyo Electron, up 5.09 per cent; and Fujikura, up 5.06 per cent. The largest losers were Archion, down 2.41 per cent, followed by Takashimaya, 1.51 per cent lower, and Shift, which lost 1.25 per cent. [Image text:] 1277 C 1281 1260 AKe 2633 5555 -83 BHD 2664.0 0 oSs 2704 2622 DeNA -60. 2680. MESX 688 2598.0 9]- 15 INPEX CHYSVE 3378 5350 14710 3178 3379 149 SOEEAX SE 50 RAI AZKADX 2690. 3296 3308 9 2708 43 729 4304 3265 G D 361 6050 1586, SS 6 15 19 SOME 66 #UHD 3X 1503 2720.0 5291 -6 SE 1496 0 405 880 50 7 1485. A57HD 610 94720 2075. 0 6609 6 39 10 2 08 660 6040 2352 29 24 2340 ZOZO 1091.0 SE 1079 1091 Ou 1070. 9) ROTHD 3722 1320. 0 +23 29 3736 99E5 749 3663 316 1641 05055 1177. 20 2E 86 SHIFT 2200.0 637. 5o 2178.0 BE *y- 2 77 29 3045 7454 70 o5 2364.0 1751 05055 1761 1767 744 1744 1730.0 FHD t9HD M 793 94300 185 30 18000 787 MAt 99 E#EY -61 000 5o 9 103 7&I-HD 191 12. 190 191 SUMCO 4155 50 4 4108 576. D T 640 2250 U BE 3196 7