Japanese stocks rise 0.8% as chip shares lead gains

  • Japanese stocks traded higher, led by chip-related shares.
  • The Nikkei Stock Average rose 0.8% to 66877.70.
  • President Trump rejected Iran's proposal for a seven-day ceasefire.

Japanese stocks were higher at 0017 GMT after U.S. equities gained on Friday as the selloff in U.S. Treasurys eased. Chip-related shares led the advance, with Advantest up 3.3%, SoftBank Group 9984 listed as up 2.26% and shown 2.5% higher, and Screen Holdings gaining 4.3%. The Nikkei Stock Average rose 0.8% to 66877.70. The dollar was at 157.58 yen, down from 158.15 yen at Friday's Tokyo market close. Investors were watching developments in the Middle East conflict after President Trump rejected Iran's proposal for a seven-day ceasefire.

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