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STOCKS-JAPAN-OPEN
Tokyo stocks open higher on optimism over US-China trade talks
TOKYO, Jan 21, 2019 (BSS/AFP) – Tokyo stocks opened higher on Monday,
extending global rallies on Friday as optimism grew over a breakthrough in
efforts to defuse a US-China trade war.
The benchmark Nikkei 225 index rose 0.86 percent, or 177.53 points, to
20,843.60 in early trade while the broader Topix index was up 0.91 percent,
or 14.11 points, at 1,571.70.
Investors were awaiting a set of economic indicators in China due later in
the day “to see the potential impact from the trade frictions after China’s
exports and imports both shrank in December”, said Tsuyoshi Nomaguchi,
strategist at Daiwa Securities.
The market is also watching the International Monetary Fund’s growth
forecasts due later in the day, he added.
The dollar fetched 109.62 yen in early Asian trade, against 109.72 yen in
New York late Friday.
Panasonic was up 3.16 percent to 1,092 yen and Toyota was up 0.92 percent
at 6,861 yen after a weekend report that the electronic giant and the auto
titan will set up a joint venture to manufacture batteries for electric
vehicles.
Nissan was up 0.76 percent at 9,205 yen amid reports the French government
has told Tokyo that it wants a merger between Renault and the Japanese auto
giant following the arrest of former Nissan chairman Carlos Ghosn.
French Economy Minister Bruno Le Maire on Sunday dismissed the reports of
merger talks, saying “the subject is not on the table”.
In New York, the Dow closed up 1.4 percent at 24,706.35 on Friday.
BSS/AFP/HR/0955