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BCN-04
STOCKS-JAPAN-OPEN-MARKET
Tokyo stocks open modestly higher in cautious trade
TOKYO, April 18, 2019 (BSS/AFP) – Tokyo stocks opened marginally higher on
Thursday with help from a cheaper yen, but investors were cautious ahead of
Easter holidays on overseas markets.
The benchmark Nikkei 225 index was up 0.05 percent or 11.42 points at
22,289.39, while the broader Topix index climbed 0.09 percent or 1.48 points
at 1,632.16.
“Japanese shares are seen supported by the continuing trend of a cheaper
yen… but a wait-and-see attitude may strengthen ahead of Easter holidays,”
Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a
commentary.
The dollar fetched 112.02 in early Asian trade, down slightly from 112.09
yen in New York, but higher than 111.96 yen in Tokyo on Wednesday and below
the 112 yen levels of earlier this week.
Global stocks finished mixed Wednesday following solid Chinese growth data
while weakness in IBM and pharmaceutical stocks weighed on Wall Street.
Banks were among the gainers in Tokyo, with Mitsubishi UFJ Financial up
0.88 percent at 578.2 yen and Sumitomo Mitsui Financial higher by 1.77
percent at 4,125 yen.
Automakers were also in the green with Toyota adding 1.61 percent to 7,065
yen, Honda trading up 1.68 percent at 3,217 yen and Nissan climbing 0.72
percent at 965 yen.
Sharp was 0.38 percent higher at 1,291 yen after its parent Foxconn’s boss
said he will run for the Taiwanese presidency.
On Wall Street, the Dow ended less than 0.1 percent at 26,449.54.
BSS/AFP/HR/0922