August 9, 2019 / 2:06 AM / 16 days ago

Japanese shares track Wall Street higher, Shiseido shines

TOKYO, Aug 9 (Reuters) - Japan’s Nikkei rose on Friday, pulling away from seven-month lows as investors took heart from a bounce on Wall Street although fresh concerns about global trade hung over sentiment.

Stock gains were limited by renewed worries about the U.S.-China trade dispute after a report that the White House is delaying a decision on whether to allow U.S. companies to do business with China’s Huawei Technologies.

The Nikkei share average was up 0.64% at 20,724.64 as of 0147 GMT.

The index slid to 21,110.76 on Tuesday, its lowest since Jan. 10, as an intensification of the U.S.-China trade war knocked sentiment. It was headed for a weekly loss of 1.7%.

Natural gas and oil developer Inpex Corp advanced 2.7% after its operating profit soared 40.7% in the April-June quarter.

Cosmetics company Shiseido Co climbed 8.8% after reporting an increase in sales for the Jan-June period thanks in part to steady demand in the Chinese market.

Shinsei Bank slid more than 10% after private equity investor JC Flowers & Co said it will sell $700 million of the lender’s shares.

Fuji Film Holdings Corp sank 5.3% as its net profit slid 48.2% in the April-June quarter amid a decline in the sales of its camera department.

The broader Topix added 0.49% to 1,505.94.

Editing by Sam Holmes

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