February 28, 2017 / 2:04 AM / a year ago

Nikkei rises after U.S. stocks gain before Trump's speech

* All sectors in positive territory

* Exporters higher after dollar rises against yen

By Ayai Tomisawa

TOKYO, Feb 28 (Reuters) - Japan’s Nikkei share average gained on Tuesday morning after U.S. stocks rose and the dollar gained on hopes that U.S. President Donald Trump will speak about infrastructure spending in an address to Congress later in the day.

The Nikkei rose 0.7 percent to 19,235.10 in midmorning trade after dropping to 2-1/2 week lows on Monday.

All of Topix’s 33 subsectors were in positive territory, with cyclical stocks outperforming after falling on the previous day.

In Wall Street, the Dow Jones Industrial Average closed at a record high for a 12th straight session after Trump said he would talk about his plans for “big” infrastructure spending in his first major policy address to Congress.

“Investors have seen the market fluctuating between hopes and disappointment about Trump’s growth policy and a lack of details,” said Isao Kubo, equity strategist at Nissay Asset Management. “They now hope that his speech today will finally bring some details, but they are not entirely optimistic so they are still nervous about taking positions.”

Exporters were higher, with Toyota Motor Corp rising 0.9 percent, Honda Motor Co gaining 1.2 percent and Panasonic Corp soaring 1.3 percent after the dollar gained 0.51 percent against the yen to 112.75 yen.

Meanwhile, Miura Printing Corp was untraded with a glut of buy orders after Daio Paper Corp said that it plans to acquire 32.3 million shares of Miura Printing via a takeover bid, aiming to fully acquire it.

The broader Topix gained 0.9 percent to 1,547.03 and the JPX-Nikkei Index 400 advanced 0.8 percent to 13,850.75. (Editing by Simon Cameron-Moore)

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