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Tokyo stocks close higher with focus on US-China talks
TOKYO, Nov 28, 2018 (BSS/AFP) – Tokyo stocks closed higher Wednesday after
gains on Wall Street and on a cheaper yen, while investors await US-China
summit talks amid speculation about a possible trade deal.
The benchmark Nikkei 225 index added 1.02 percent, or 224.62 points, to
end at 22,177.02 while the broader Topix index was up 0.58 percent, or 9.50
points, at 1,653.66.
“As the US-China summit is confirmed to be held, expectations for a
certain kind of deal is growing,” Daiwa Securities said in a commentary.
Rallies in shares in Hong Kong and Shanghai also supported gains in the
Tokyo market, it added.
But the future course of markets depends on the outcome of the weekend
talks between US President Donald Trump and his Chinese counterpart Xi
Jinping, analysts said.
The dollar was firm against the yen in a positive move for Japanese
exporters, trading at 113.86 yen against 113.79 yen in New York on Tuesday
and the mid-113 yen range earlier Tuesday in Tokyo.
In individual stocks trade, Sony rose 1.75 percent to 5,904 yen and
electronic parts maker Shin-Etsu Mfg jumped 4.46 percent to 16,715 yen.
Mitsubishi Motors fell back 2.26 percent to 690 yen, erasing the previous
day’s gain after the firm sacked Carlos Ghosn as chairman following his
dramatic arrest last week.
Nissan lost 0.43 percent to 971.5 yen.
Messaging app operator LINE added 2.73 percent to 3,945 yen after surging
nearly 13 percent on Tuesday following news it would launch mobile phone
banking services with Mizuho Financial Group.
BSS/AFP/HR/1250