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STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open lower as trade war fears linger
TOKYO, June 21, 2018 (BSS/AFP) – Tokyo stocks opened lower on Thursday with
worries lingering about a US-China trade war after new tariff threats from
Washington.
The benchmark Nikkei 225 index edged down 0.23 percent or 52.89 points to
22,502.54 in early trade, while the broader Topix index was down 0.16 percent
or 2.78 points at 1,749.97.
The dollar fetched 110.41 yen in early Asian trade, up from 110.05 yen in
New York late Wednesday.
The Nikkei and Topix both rebounded to positive territory briefly before
falling again as “concerns over protectionist trade polices are lingering but
have been digested in the market,” senior market advisor Kyoko Amemiya of SBI
Securities told AFP.
The cheaper yen against the dollar is supporting the market along with
expectations for dividend payments as firms hold general shareholders
meetings, she added.
Takeda Pharmaceutical rallied 3.95 percent to 4,472 yen after its chief
executive said the company was boosting its business in China.
Sony rallied 2.31 percent to 5,529 yen and SoftBank gained 1.71 percent to
8,401 yen while Olympus lost 0.36 percent to 4,114 yen and Nissan fell 0.27
percent to 1,078 yen.
In New York on Wednesday, the Nasdaq jumped to a fresh record while the Dow
continued to be weighed down by trade war anxiety, closing down 0.2 percent
at 24,657.80.
BSS/AFP/HR/0928