REFILE-Japanese shares surge on dovish BOJ comments, report Buffett plans to add investments

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By Rocky Swift

TOKYO, April 11 (Reuters) – Japanese stocks climbed for a third straight session on Tuesday, after dovish comments from the nation’s new central bank governor and upbeat U.S. economic signs bolstered investor sentiment.

The Nikkei share average rose 1.4% to 28,013.86 by the midday break, set for its sharpest advance since March 22. The broader Topix gained 0.9% to 1,995.20.

Bank of Japan Governor Kazuo Ueda said on Monday in his inaugural press conference that it was appropriate to maintain the bank’s ultra-loose monetary policy for now.

Chip equipment-maker Tokyo Electron jumped 4.4%, leading gainers on the Nikkei, tracking its Wall Street peers.

“Semiconductor-related stocks as well as high-tech stocks are pushing up the Nikkei Stock Average,” said Nomura strategist Kazuo Kamitani. “Also, expectations that the Bank of Japan will delay modification to its monetary policy seem to be having an effect.”

U.S. shares were mixed on Monday as investors factored in how positive jobs data from last week and inflation figures in the coming days will influence Federal Reserve policy.

Tech firms rose 1.7% in Tokyo. Advantest Corp. , Japan’s largest maker of testing devices for semiconductors, climbed 2.7%.

Apple Inc supplier Japan Display Inc surged 8.7%, after saying it would team up with China’s HKC Corporation Ltd on next-generation technology for screens.

The yen depreciated 1.1% on Monday, the most since March 29, following Ueda’s comments, giving a lift to exporters in Tokyo trading including Mazda Motor Corp and Nissan Motor Co. , with each advancing more than 2%.

Billionaire investor Warren Buffett told Nikkei he intends to add to investments in Japan.

Buffett’s company Berkshire Hathaway Inc’s holds more than 5% stakes in five Japanese trading houses – Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co and Sumitomo Corp.

The Topix Wholesale Trade Stock Price Index, which includes the companies, rose 2%, leading gains among the 33 industry sub-indexes on the Tokyo Stock Exchange.

(Reporting by Rocky Swift; Editing by Rashmi Aich)

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