Tokyo Stocks Open Higher

Tokyo, Oct 8 (AFP/APP):Tokyo stocks opened higher on Tuesday helped by a cheaper yen but trade was cautious ahead of the resumption of US-China trade talks this week.

The benchmark Nikkei 225 index was up 0.53 percent or 113.38 points at 21,488.63 in early trade, while the broader Topix index was up 0.52 percent or 8.17 points at 1,580.92.

The latest round of high-level talks are due to begin Thursday, with Beijing’s top trade envoy Liu He meeting with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, the White House said in a statement.

“This week investors are awaiting the result of the US-China trade talks and the Nikkei index will not likely move dramatically,” Okasan Online Securities said in a commentary.

The dollar fetched 107.25 yen in early Asian trade, against 107.29 yen in New York.

Read: US, China to resume trade talks in Washington in October

Among major shares in Tokyo, SoftBank Group was up 0.55 percent at 4,180 yen, Toyota was up 0.98 percent at 7,055 yen and Fast Retailing, operator of Uniqlo casual wear, was up 0.81 percent at 60,940 yen.

Official data released Tuesday showed a mixed picture of the Japanese economy.

Japan’s household spending in August increased 1.0 percent from a year earlier, the ninth consecutive monthly rise, according to the internal affairs ministry data released minutes before the opening bell.

However, separate data from the labour ministry showed that salaries in August slipped a real 0.8 percent year-on-year, the eighth consecutive monthly decline.

On Wall Street, the Dow ended down 0.4 percent at 26,478.02.

Yesterday’s Stock UpdatesTokyo stocks open higher

Leave A Reply

Your email address will not be published.