TOKYO, Oct 11, 2019 (BSS/AFP) – Tokyo stocks opened higher on Friday with
all eyes on a planned high-level meeting between US and Chinese trade
officials later in the day.
The benchmark Nikkei 225 index was up 0.69 percent or 149.21 points at
21,701.19 in early trade, while the broader Topix index was up 0.54 percent
or 8.48 points at 1,589.90.
Wall Street stocks finished with solid gains on hopes for progress in the
US-China trade dispute after President Donald Trump announced he would meet
with China’s top trade envoy.
Trump’s tweet announcing he would meet with Vice Premier Liu He raised
hopes about prospects for high-level trade negotiations that resumed
Thursday.
“Japanese shares are seen rising in early trade… but soon will likely
lose a sense of direction,” Okasan Online Securities said in a commentary.
“Many market participants are taking a wait-and-see attitude” ahead of the
talks, it added.
The dollar fetched 107.89 yen in early trade, against 107.88 yen in New
York late Thursday.
Stocks have gyrated this week in response to conflicting signals from
Washington and Beijing, tumbling after the US announced new restrictions on
Chinese companies over human rights abuses and rallying on reports
emphasising the possibility of a narrow agreement that averts further
tariffs.
In Tokyo, exporters were higher across the board, with Toyota trading up
1.36 percent at 7,205 yen, Honda up 1.44 percent at 2,805 yen, Sony up 1.58
percent at 6,233 yen and Panasonic up 1.63 percent at 875.7 yen.
On Wall Street, the Dow closed up 0.6 percent at 26,496.67.