Japan's Nikkei surges as trade optimism lifts tech; Toyota Industries plunges

TOKYO, June 4 (Reuters) - Japanese stocks climbed, snapping a three-day skid, after the yen weakened and glimmers of hope emerged for a trade deal that will reopen technology markets with China.

Chip sector heavyweights Tokyo Electron Ltd 8035.T and Advantest Corp 6857.T rose 1.5% and 1.3%, respectively, following gains in U.S. tech shares overnight. Nintendo 7974.T jumped as much as 3.6% ahead of the debut of its much-anticipated Switch 2 console on Thursday.

Nvidia and other chipmakers drove gains in U.S. stocks ahead of expected talks this week between U.S. President Donald Trump and Chinese leader Xi Jinping to address tariff and trade disputes that have roiled global markets.

The benchmark Nikkei 225 Index .N225 climbed 1% as of the morning break while the broader Topix .TOPX added 0.7%. There were 173 advancers on the Nikkei index against 49 decliners.

"This trend of rising semiconductor stocks is spreading to the Japanese stock market today along with expectations of progress in trade negotiations," said Wataru Akiyama, a strategist at Nomura Securities.

The yen JPY= was little changed at 143.94 per dollar, after a 0.9% slide in the previous session, benefiting exporters.

The United States is expecting countries to make their best offers on trade negotiations by Wednesday as sweeping tariffs loom. Even so, Japan has not yet received a letter for its best proposals, the chief government spokesperson said.

Toyota Industries 6201.T sank as much as 13% after automaker Toyota Motor 7203.T said it will take the forklift-maker private in a $33 billion deal, much lower than an offer indicated in previous media reports. Toyota Motor's shares climbed 2.2%.

The largest percentage gainers on the Nikkei were Sumitomo Pharma 4506.T up 6.2%, followed by Furukawa Electric 5801.T gaining 4.5%.

The biggest losers were BayCurrent 6532.T down 2.6%, followed by Suzuki Motor 7269.T which lost 1.7%.