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STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open flat ahead of Trump-Kim summit
TOKYO, June 11, 2018 (BSS/AFP) – Tokyo stocks opened flat on Monday with
investors cautious ahead of key events including a historic US-North Korea
summit and central bank meetings of major economies this week.
The benchmark Nikkei 225 index edged down 0.02 percent or 3.59 points to
22,690.91 in early trade while the broader Topix index was up 0.03 percent or
0.56 points at 1,782.00.
“Japanese shares this week will be moving a step forward and a step back
with eyes on events such as the US-North Korea summit” and the US Fed’s
policy meeting on Tuesday, Okasan Online Securities said in a commentary.
Meetings of the European Central Bank and the Bank of Japan are also due
later this week.
The dollar fetched 109.46 yen in early Asian trade, against 109.48 yen in
New York late Friday.
As US President Donald Trump “did not mention the core of his trade policy
during the G7 summit, excessive fears are receding,” Okasan’s chief
strategist Yoshihiro Ito said in a commentary, adding that dealers still
remain cautions ahead of key events this week.
Just minutes after a joint G7 communique was published Saturday in summit
host city Quebec, Trump launched a Twitter broadside, saying he had
instructed US representatives not to endorse the statement.
In Tokyo, automakers were mixed with Toyota losing 0.34 percent to 7,454
yen while Honda edged up 0.34 percent to 3,529 yen.
Sony rose 0.73 percent to 5,490 while game giant Nintendo was down 0.38
percent at 41,430 yen.
On Wall Street on Friday, the Dow closed up 0.3 percent at 25,316.53.
BSS/AFP/HR/0928