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Tokyo stocks close higher
TOKYO, May 27, 2019 (BSS/AFP) – Tokyo shares edged up on Monday, with
investors expressing relief as US President Donald Trump appeared to take a
softer stance on his thorny trade dispute with Japan.
The key Nikkei 225 index rose 0.31 percent, or 65.36 points, to close at
21,182.58, while the broader Topix index was up 0.38 percent, or 5.79 points,
at 1,547.00.
“Players were relieved as President Trump did not take a tough stance on
the US-Japan trade issue,” Daiwa Securities chief technical analyst Eiji
Kinouchi told AFP.
After a fun-filled weekend of golf and sumo, Trump and Japanese Prime
Minister Shinzo Abe held formal talks Monday, with trade and tensions with
North Korea topping the agenda.
Ahead of their talks, Trump hinted that tough negotiations on their
bilateral trade could wait until after July elections in Japan.
Trump tweeted: “Great progress being made in our Trade Negotiations with
Japan. Agriculture and beef heavily in play.”
In remarks after the closing bell, Trump also told reporters: “We hope to
have even more to announce on the trade, very very soon.”
The dollar fetched 109.52 yen in Asian afternoon trade, against 109.29 yen
in New York late Friday.
In Tokyo, Nissan was up 0.97 percent at 747.8 yen after news that its
French alliance partner Renault and Italian-US auto giant Fiat Chrysler are
weighing a potential merger.
Its rival Toyota gained 0.79 percent to 6,554 yen while Honda was down
1.11 percent at 2,759 yen.
Takeda Pharmaceutical jumped 2.46 percent to 3,942 yen while telecom and
investment firm SoftBank Group was up 1.65 percent at 10,465 yen.
BSS/AFP/HR/1420