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STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open higher on optimism over economy, trade
TOKYO, April 2, 2019 (BSS/AFP) – Tokyo stocks opened higher on Tuesday on
improved sentiment after US shares rallied on positive US and Chinese
manufacturing data with optimism rising over US-China trade talks.
The benchmark Nikkei 225 index rose 0.98 percent or 210.47 points to
21,719.50 in early trade, while the broader Topix index was up 0.86 percent
or 13.92 points at 1,629.73.
“US shares rallied thanks to an improvement in US and Chinese manufacturing
data… and the Japanese market is seen gaining, encouraged by US rallies and
a cheaper yen” against the dollar, Toshiyuki Kanayama, senior market analyst
at Monex, said in a commentary.
Analysts also cited optimism over US-China trade talks as a positive
driver.
The dollar fetched 111.38 yen in early Asian trade, up from 111.35 yen in
New York and 111.13 yen in Tokyo on Monday.
In Tokyo, steelmakers were higher, with Nippon Steel up 1.71 percent at
2,047 yen, and JFE up 2.21 percent at 1,986 yen.
China-linked shares were also higher, with construction machine maker
Komatsu climbing 1.79 percent at 2,697 yen, industrial robot maker Fanuc up
2.09 percent at 19,740 yen and electronic parts maker Rohm up 2.92 percent at
7,400 yen.
On Wall Street, the Dow ended up 1.3 percent at 26,258.42.
BSS/AFP/GMR/1018 hrs