Share

Tokyo shares open higher on falling yen, US jobs data

Tokyo - Tokyo shares jumped in early trade on Monday as global investors cheered healthy US jobs data while the falling yen also lifted the Japanese bourse.

The market's optimism stayed intact as the White House deliberates details of its planned metal tariffs and a potential meeting between President Donald Trump and North Korean leader Kim Jong Un.

The benchmark Nikkei 225 index rose 435.06 points, to 21 904.26 in early trade while the broader Topix index advanced 25.63 points, to 1 741.11.
The dollar firmed to ¥106.95, from ¥106.78 in New York on Friday.

"The Tokyo bourse this week is likely to try rebounding," said Okasan Online Securities in a note to clients.

"The US jobs data came out 'just right', and this is likely to encourage buying and boost the market," it said.

The closely-watched monthly US payrolls report, released on Friday, revealed moderating wage growth compared with the January report, mitigating concerns the Federal Reserve will speed its pace of interest rate hikes.

Global investors also eyed Trump's tariffs plans, which could spark a trade war.

But Washington is promising some exemptions, including for Mexico and Canada, making the tariffs less severe than initially feared.
Still, Trump has exchanged sharp words with European officials over the issue.

The market is also enjoying a sense of easing geopolitical tension with Trump promising to meet with Kim by the end of May.

"We cannot say there is no concern over issues related to (US metal) trade and the talks between the US and North Korea. But we still believe a rebound is likely, with a fall of the yen also serving as a tailwind," Okasan Online said.

Among major shares, Toyota jumped 2.47% to ¥6 959, while Panasonic rose 2.78% to 1 680.5.

Hitachi rose 2.73% to 812.4. Mitsubishi UFJ Financial Group rose 2.13% to ¥732.4.

Sony edged up 0.11% to 5 399.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.98
-0.4%
Rand - Pound
24.00
-0.4%
Rand - Euro
20.51
-0.2%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.4%
Platinum
903.65
+0.8%
Palladium
1,016.75
+1.5%
Gold
2,207.48
+0.6%
Silver
24.59
-0.2%
Brent Crude
86.09
-0.2%
Top 40
68,260
+0.9%
All Share
74,450
+0.7%
Resource 10
57,117
+2.6%
Industrial 25
103,835
+0.6%
Financial 15
16,488
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders