ZCZC
BCN-25
STOCKS-MARKETS-JAPAN-CLOSE
Tokyo shares end higher for eight straight sessions
TOKYO, Sept 12, 2019 (BSS/AFP) – Tokyo shares closed higher on Thursday
for an eight-day winning streak, as players cheered Japan’s new cabinet as
well as receding worries about the US-China trade spat.
The headline Nikkei 225 index added 0.75 percent or 161.85 points to close
at 21,759.61, while the broader Topix index rose 0.72 percent or 11.44 points
to 1,595.10.
The Tokyo market stayed comfortably in positive range through the day, as
optimism about US-China talks boosted Wall Street shares overnight.
Shortly before the opening bell, US President Donald Trump tweeted that he
would delay a tariff increase on Chinese goods “as a gesture of good will”.
The message “further eased concerns about US-China trade friction”, SMBC
Nikko Securities said in a commentary.
Prime Minister Shinzo Abe announced a new cabinet Wednesday, largely
keeping his trusted aids in key positions.
New Environment Minister Shinjiro Koizumi attracted attention, even among
market players curious about whether the ministry might work with the
telegenic lawmaker to push for a carbon tax, said Okasan Online Securities.
The yen’s rise also encouraged investors, the brokerage added.
The market’s gain plateaued in the afternoon as investors began to take a
wait-and-see attitude ahead of the European Central Bank’s policy meeting as
well as a barrage of major US indicators such as consumer prices and initial
jobless claims, analysts said.
The dollar stood at 107.98 yen, against 107.83 yen in New York late
Wednesday.
Among major shares, Yahoo Japan Corp soared 2.35 percent to 305 yen after
it announced a plan to take a majority stake in popular online fashion
retailer Zozo.
Zozo is best known for its eccentric billionaire founder Yusaku Maezawa,
who a year ago appeared with Space X CEO Elon Musk to announce himself as the
first paying customer to travel around the moon.
Sony added 0.99 percent to 6,515 yen. Nintendo rose 1.17 percent to
41,580.
Toyota dropped 0.22 percent to 7,339 yen. Mitsubishi UFJ Financial Group
fell 0.30 percent to 568.3.
BSS/AFP/HR/1340