ZCZC
BCN-04
STOCKS-JAPAN-OPEN-MARKET
Tokyo stocks open higher after US rallies
TOKYO, Dec 27, 2019 (BSS/AFP) – Tokyo stocks opened higher on Friday,
encouraged by rallies on Wall Street with a relatively cheap yen also
supporting exporters.
The benchmark Nikkei 225 index edged up 0.09 percent, or 21.24 points, to
23,946.16 in early trade, while the broader Topix index was up 0.20 percent,
or 3.54 points, at 1,734.74.
“Japanese shares are expected to keep rising towards the last trading day
of the year, following fresh records in US shares and a cheapish yen,” Okasan
Online Securities strategist Yoshihiro Ito said in a commentary.
The dollar fetched 109.47 yen in early Asian trade, against 109.42 yen on
Thursday in late Tokyo.
Game makers were among the winners in major shares, with Nintendo trading
up 0.66 percent at 43,840 and Sega Sammy Holdings up 1.12 percent at 1,616
yen.
Automakers were mostly higher, with Toyota gaining 0.44 percent to 7,759
yen, Mazda up 0.64 percent to 934 yen, and small car expert Suzuki up 0.88
percent to 4,650 yen.
Sharp was up 0.48 percent at 1,663 yen after reports said Japan Display
plans to sell a domestic plant to the company.
Japan Display was up 2.73 percent at 75 yen.
Japan’s industrial output in November slipped 0.9 percent from the previous
month, the second consecutive monthly decline, according to data released by
the industry ministry 10 minutes before the opening bell.
The unemployment rate in November stood at 2.2 percent, down by 0.2
percentage points from October, separate data released by the internal
affairs ministry showed, confirming the tight labour market in the country.
On Wall Street, the Dow added 0.4 percent to end at 28,621.39.
BSS/AFP/HR/0910