ZCZC
BCN-05
STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open higher with improved sentiment
TOKYO, Nov 19, 2018 (BSS/AFP) – Tokyo stocks opened higher on Monday as
investors refocused on sound corporate earnings helped by optimism about
trade, but there were still lingering concerns about issues including Italian
politics.
The benchmark Nikkei 225 index was up 0.17 percent, or 37.51 points, at
21,717.85 in early trade while the broader Topix index was up 0.11 percent,
or 1.77 points, at 1,631.07.
Investors in Tokyo appeared to take heart from hopeful comments on trade
from US President Donald Trump last week “to buy shares in companies with
brisk earnings”, said Tsuyoshi Nomaguchi, a strategist at Daiwa Securities.
However, worries over the Italian budget persisted, Nomaguchi added, noting
“if Italy keeps refusing to accept the EU’s proposal on the budget, Italian
long-term rates could rise and destabilise the financial market”.
Investors are also watching US housing starts data due on Tuesday and data
Wednesday on the number of foreign tourists in Japan for further clues, he
added.
The dollar fetched 112.78 yen in early Asian trade, against 112.88 yen in
New York on Friday.
In Tokyo, game titan Nintendo was up 2.45 percent at 32,640 yen and telecom
giant SoftBank was up 3.93 percent at 9,148 yen.
Toyota edged up 0.38 percent to 6,616 yen and Sony rose 1.32 percent to
5,765 yen.
BSS/AFP/HR/0932