TOKYO, March 15, 2019 (BSS/AFP) – Tokyo stocks opened higher on Friday
with a cheaper yen supporting the market, as investors awaited the Bank of
Japan’s policy board decision later in the day.
The Nikkei 225 index added 0.62 percent, or 130.98 points, to 21,418.00 in
early trade, while the broader Topix index was up 0.55 percent, or 8.80
points, at 1,597.09.
Investors were awaiting the Bank of Japan’s monetary policy decisions
later on the day, “as there is a view that the Bank may revise down part of
its assessment of the economy even though the monetary policy itself is
expected to be unchanged”, said Toshiyuki Kanayama, senior market analyst at
Monex.
The dollar fetched 111.77 yen in early Asian trade, up slightly from
111.65 yen in New York and 111.58 yen in Tokyo on Thursday.
Wall Street shares ended mixed but the changes were limited as investors
fretted about the slackening momentum in US-China trade talks while British
lawmakers voted to delay the exit from the EU, a move largely expected by
market participants.
US President Donald Trump said Thursday that trade war negotiations with
China should wrap up within four weeks and expressed optimism about striking
a deal, saying “we are doing very well with China talks”.
Despite Trump’s upbeat assessment, the two sides continue to lock horns on
the hugely complex dispute between the world’s two biggest economies.
In Tokyo, Toyota was up 1.02 percent at 6,610 yen after it announced it
will boost its planned US investment by $3 billion to $13 billion over five
years to boost manufacturing in multiple states.
Its rival Honda was up 1.29 percent at 3,062 yen while Nissan was up 1.05
percent at 940.7 yen.
China-related shares were also higher, with construction machinery maker
Komatsu trading up 1.33 percent at 2,661.5 yen and industrial robot maker
Fanuc rallying 1.28 percent to 18,870 yen.
In New York, the Dow was barely changed at 25,709.94 at the close while
the broader S&P 500 ended down 0.1 percent at 2,808.48.