ZCZC
BCN-03
JAPAN-STOCKS-MARKETS-OPEN
Tokyo stocks open higher ahead of G20
TOKYO, June 27, 2019 (BSS/AFP) – Tokyo stocks opened higher on Thursday
boosted by a halt in the yen’s appreciation, with investors focused on this
week’s Group of 20 summit and key US-China trade talks.
The benchmark Nikkei 225 index was up 0.21 percent or 45.10 points at
21,131.69 in early trade, while the broader Topix index was up 0.18 percent
or 2.78 points at 1,537.12.
“After the US market failed to show a clear sense of direction with a
wait-and-see attitude ahead of the US-China summit talks, Japanese shares are
seen rising helped by a halt in the yen’s rise” against the dollar, Toshiyuki
Kanayama, senior market strategist at Monex, said in a note.
Global stocks, including Wall Street shares, treaded water on Wednesday
ahead of key US-China trade talks on the sidelines of the G20 summit in Osaka
in western Japan.
In New York, the Dow ended down less than 0.1 percent at 26,536.82.
The dollar fetched 107.67 yen in early Asian trade, against 107.78 yen in
New York, and up from below 107.50 levels in Tokyo on Wednesday.
In Tokyo, China-linked shares were higher, with electronic parts maker
Rohm rallying 3.93 percent to 7,130 yen and industrial robot maker Fanuc up
1.36 percent at 19,980 yen.
Automakers were also higher, with Honda gaining 1.40 percent to 2,769.5
yen, Nissan up 1.77 percent at 774.7 yen and Toyota up 0.45 percent at 6,643
yen.
French President Emmanuel Macron held bilateral talks with Japanese Prime
Minister Shinzo Abe late Wednesday, reaffirming an alliance that has been
tested in recent months after the arrest of auto tycoon Carlos Ghosn, who
once headed a partnership of Nissan, Mitsubishi and France’s Renault.
The leaders did not touch on the auto alliance issue during their talks,
according to Japanese media reports.
BSS/AFP/HR/0830