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Tokyo stocks close higher for third straight session
TOKYO, Feb 20, 2019 (BSS/AFP) – Tokyo stocks rose for a third straight
session on Wednesday, supported by a solid performance on Wall Street and
hopes for progress in US-China trade talks.
The benchmark Nikkei 225 index added 0.60 percent, or 128.84 points, to
close at 21,431.49 while the broader Topix index was up 0.43 percent, or 6.95
points, at 1,613.47.
“Investors were encouraged by growing expectations that the US-China trade
talks will make progress,” Toshikazu Horiuchi, a broker at IwaiCosmo
Securities, told AFP.
Tokyo shares opened higher after Wall Street stocks scraped out narrow
gains on Tuesday on strong Walmart earnings and continued optimism over the
trade talks which resumed in Washington aimed at ending a damaging tariff war
between the economic superpowers.
US President Donald Trump said the talks were “going very well” but were
“very complex”.
The dollar firmed to 110.80 yen in Asian afternoon trade from 110.58 yen in
New York Tuesday afternoon.
In individual stocks trade, Honda gained 0.63 percent to 3,033 yen after
announcing it would shut down its British plant.
Market heavyweight SoftBank Group jumped 3.63 percent to 10,400 yen as Fast
Retailing, operator of the Uniqlo casual wear brand, edged up 0.07 percent at
50,340 yen.
Mitsui and Co. gained 1.66 percent to 1,803 yen and Mitsubishi Corp. rose
1.91 percent to 3,254 yen after the Nikkei business daily reported that
leading Russian company Novatek asked the Japanese trading houses to invest
in a major Arctic LNG project.
Fujitsu dropped 3.25 percent to 7,518 yen after announcing plans to report
extra losses related to its early retirement programme.
BSS/AFP/HR/1255