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STOCKS-MARKETS-JAPAN-OPEN-LEAD
Tokyo stocks open higher as yen remains cheaper
TOKYO, Sept 11, 2018 (BSS/AFP) – Tokyo stocks opened higher on Tuesday
despite lingering worries about trade issues as the yen lost ground against
the dollar, which tends to boost stocks.
The benchmark Nikkei 225 index was up 0.45 percent or 101.19 points at
22,474.28 in early trade, while the broader Topix index was up 0.19 percent
or 3.29 points at 1,690.90.
The dollar fetched 111.17 yen in early Asian trade, against 111.18 yen in
New York and 110.95 yen in Tokyo on Monday.
The upward movement in Japanese shares, helped by a cheaper yen, may be
limited given ongoing concerns over trade issues, analysts said.
“With few market-moving events, it would be difficult to buy actively as
uncertainty remains over trade talks around the United States,” SBI
Securities said in a commentary.
US President Donald Trump “has suggested taking a certain retaliatory
action if no progress is made in US-Japan negotiations,” it noted.
Game giant Nintendo was up 0.85 percent at 38,970 yen and Sony was 0.96
percent higher at 6,305 yen.
Chip-testing equipment maker Advantest was up 1.71 percent at 2,428 yen,
reflecting rallies in US high-tech shares.
On Wall Street, the Dow Jones Industrial Average shed 0.2 percent to close
25,857.07, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to
7,924.16.
BSS/AFP/MR/ 1140 hrs