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STOCKS-JAPAN-MARKETS-CLOSE
Tokyo stocks close higher on US-China trade hopes
TOKYO, April 3, 2019 (BSS/AFP) – Tokyo shares closed higher on Wednesday
following a report saying that the US and China were closing in on a deal to
end their long-running trade row.
The Nikkei 225 index gained 0.97 percent, or 207.90 points, to end at
21,713.21 while the broader Topix index rose 0.63 percent, or 10.08 points,
to 1,621.77.
The dollar fetched 111.43 in Asian trade, against 111.36 yen in New York
late Tuesday.
“In afternoon trade, Tokyo shares rose on hopes for positive developments
in the US-China trade talks,” Yoshihiro Ito, chief strategist at Okasan
Online Securities, said in a commentary.
The Financial Times reported on Wednesday that Washington and Beijing were
on course for a historic agreement.
“The market is also supported by a slightly cheaper yen, while the Nikkei
is boosted by rising Fast Retailing shares,” Ito said.
Market heavyweight and Uniqlo casual wear operator Fast Retailing jumped
5.44 percent to 54,620 yen, a day after announcing strong Uniqlo sales for
March in Japan.
Industrial robot maker Fanuc rose 2.72 percent to 20,745 yen and Sony was
up 0.96 percent to 4,725 yen.
SoftBank Group climbed 0.69 percent to 10,905 yen and Takeda
Pharmaceutical edged up 0.17 percent to 4,560 yen.
BSS/AFP/HR/1300