ZCZC
BCN-07
STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open higher on cheaper yen
TOKYO, Aug 30, 2018 (BSS/AFP) – Tokyo stocks opened higher on Thursday,
extending rallies in New York as the yen remained lower against the dollar.
The benchmark Nikkei 225 index was up 0.77 percent, or 175.55 points, at
23,023.77 in early trade, while the broader Topix index was up 0.53 percent,
or 9.30 points, at 1,748.90.
The dollar fetched 111.68 yen in early Asian trade, unchanged from the
level in New York but higher than 111.16 yen in Tokyo on Wednesday.
“A cheaper yen may prompt purchases of exporters,” SBI securities said in a
commentary.
US President Donald Trump joined Canadian Prime Minister Justin Trudeau in
signalling that talks to rewrite the North American Free Trade Agreement were
headed in the right direction.
Rising optimism on the success of North American trade talks brought
further joy to Wall Street on Wednesday, driving the S&P 500 and Nasdaq to
close at new records for the fourth straight session.
The benchmark Dow closed up 0.2 percent at 26,124.57.
Strong US GDP data also buoyed US stocks and the greenback.
In Tokyo, Sony was up 1.19 percent at 6,367 yen and chip-testing device
manufacturer Advantest was up 1.45 percent at 2,658 yen.
Rohm, a maker of chips and other electronic parts, rose 2.03 percent to
10,030 yen.
Oil-linked shares were also higher reflecting rallies in crude prices, with
oil developer Inpex gaining 1.90 percent to 1,231 yen and oil refiner and
wholesaler JXTG was up 1.58 percent at 873.5 yen.
BSS/AFP/HR/0950