* Chip-related stocks positive
* Nikkei up 1.2% for the week
By Ayai Tomisawa
TOKYO, June 7 (Reuters) - Japan's Nikkei rose on Friday
morning, tracking U.S. gains as news Washington is considering a
delay in tariffs on Mexican imports eased wider concerns about
global trade.
The Nikkei share average .N225 rose 0.5% to 20,878.90 at
the midday break. For the week, the index has gained 1.2% so
far.
Investor sentiment recovered slightly after Mexican and U.S.
officials held a second day of talks on trade and migration on
Thursday, amid reports President Donald Trump might delay the
imposition of tariffs that was due on Monday. Analysts said that while sentiment is positive, trading may
be thin as most investors are staying on the sidelines ahead of
a U.S. jobs report that is expected to back expectations for the
Federal Reserve to cut rates if the U.S. economy slows.
"The market has almost priced in expectations that the Fed
will cut rates. On a trade front, we still don't know the
outcome for the U.S.-Mexican tariff deal, but positive reports
support the mood," said Isao Kubo, equity strategist at Nissay
Asset Management.
Cyclical stocks, such as those in chip-related sectors, were
in demand, with Advantest Corp 6857.T up 4.7% and Tokyo
Electron 8035.T rising 2.8%. Other exporters also gained, with
TDK Corp 6762.T rising 2.3% and Fanuc Corp 6954.T adding
1.5%.
Hitachi High-Technologies 8036.T was untraded with a glut
of buy orders after the Nikkei business reported that parent
Hitachi Ltd 6501.T is considering turning the company into a
100% subsidiary. The buy orders indicate a 15% jump to a daily
limit-high of 5,450 yen.
Hitachi Ltd said while it is considering various options to
raise the company value but nothing has been decided at this
point.
The broader Topix .TOPX rose 0.4% to 1,530.42.
(Editing by Sam Holmes)