TOKYO (Kyodo) — Japan’s Nikkei stock index rose over 2 percent on Tuesday afternoon, as semiconductor-related issues were lifted on optimism that Japan-made chip products will be exempted from new U.S. curbs on exports to China.

At 1 p.m., the 225-issue Nikkei Stock Average had risen 820.06 points, or 2.13 percent, from Monday to 39,333.08. The broader Topix index was up 43.79 points, or 1.61 percent, at 2,758.51.

Investors were encouraged by reports that Japanese makers are exempted from the U.S. export controls intended to limit China’s access to chip-related products, analysts said.

Heavyweight chip-related stocks also rose after the tech-heavy Nasdaq index ended at an all-time high overnight.