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Tokyo shares rise on US-China talks, cheaper yen

Sep 06 2019 10:49

Tokyo stocks ended higher on Friday, supported by a cheaper yen, the planned resumption of the US-China trade talks and solid US economic data.

The headline Nikkei 225 index added 0.54% to 21 199.57, while the broader Topix index rose 0.17% to 1 537.10.

"With hopes for progress in the US-China trade talks and strong US economic indicators that pushed up US shares, the Japanese market started with gains," Okasan Online Securities said in a note.

Later trade saw both bargain-hunting purchases and sales on profit taking, with investors' focus shifting to key US jobs data due later on Friday, it said.

Investors are also closely watching China's trade data due on Sunday, analysts said.

The dollar fetched ¥106.96 in late Asian trade, unchanged from the level in New York but up from ¥106.44 in Tokyo on Thursday.

Shares in automakers were broadly higher, with Honda jumping 3.01% to ¥2 734, Nissan ending up 2.47% at ¥674 and Toyota gaining 0.42% at ¥7 030.

Electronics also gained, with Panasonic ending up 1.83% at ¥850.3 and Sharp up 2.77% at ¥1 186.

Market heavyweight Fast Retailing, Uniqlo casual wear operator, closed up 1.81% at ¥65 150.

equities  |  markets  |  tokyo stocks


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