ZCZC
BCN-17
STOCKS-JAPAN-CLOSE
Tokyo stocks close lower on stronger yen
TOKYO, June 21, 2019 (BSS/AFP) – Tokyo stocks closed lower on Friday as a
firmer yen overwhelmed positive sentiment from rallies on Wall Street.
The benchmark Nikkei 225 index lost 0.95 percent, or 204.22 points, to
21,258.64, for a weekly gain of 0.67 percent, while the broader Topix index
ended down 0.90 percent, or 14.00 points, at 1,545.90 to slip 0.05 percent
since last Friday.
“Despite support from central bankers’ attitudes of easing monetary policy
and expectations of progress in the US-China relations, strengthening of the
yen is weighing on the market,” Resona Bank said in a commentary.
The S&P 500 finished at a record high Thursday, boosted by a rally in oil-
linked shares amid new US-Iran tensions and continued positive sentiment over
the Federal Reserve’s dovish tilt.
The dollar fetched 107.22 yen in Asian trade, down slightly from 107.27
yen in New York and from 107.56 yen in Tokyo on Thursday.
In Tokyo, banks were among losers, with Mitsubishi UFJ Financial trading
down 0.70 percent at 503.7 yen and Sumitomo Mitsui Financial down 0.55
percent at 3,754 yen.
Oil-linked shares climbed amid rising US-Iran tensions, with crude and
natural gas developer Inpex jumping 4.44 percent to 999.3 yen and Japan
Petroleum Exploration soaring 3.73 percent to 2,507 yen.
Japan’s core consumer price inflation index, excluding fresh food, was up
0.8 percent year-on-year in May, according to data issued by the internal
affairs ministry 30 minutes before the opening bell.
The reading, down 0.1 percentage point from the figure in April, was in
line with market expectationa and far below the Bank of Japan’s two-percent
inflation target.
On Wall Street, the Dow ended up 0.9 percent at 26,753.17, while the S&P
closed up 1.0 percent at a fresh record at 2,954.18.
BSS/AFP/HR/1400