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Tokyo stocks close higher on profit-taking

Sep 09 2019 10:21

Tokyo stocks closed higher on Monday on profit-taking, as investors assessed the impact from eased, but still lingering, worries over Brexit and the US-China trade war.

The benchmark Nikkei 225 index rose 0.56% to 21 318.42 at the close, while the broader Topix index ended higher by 0.91% at 1 551.11.

"The issues of Britain's exit from the EU and the trade friction between the US and China eased last week but are still lingering and investors are eager to know what will happen," Mizuho Securities said in a note.

Given the lack of fresh market-moving news, trade was moving in a narrow range, it added.

The dollar fetched ¥106.89 in Asian trade, against ¥106.95 in New York late on Friday.

In Tokyo, electronics were higher, with Sony ending up 2.13% at ¥6 496 and Canon up 0.60% at ¥2 809.

Banks were also higher with Mitsubishi UFJ up 1.00% at ¥525 and Sumitomo Mitsui Financial up 0.34% at ¥3 538.

Nissan was down 0.22% at 672.5 amid reports that its chief executive plans to resign after admitting he received more pay than he was entitled to.

Its rival Toyota closed up 0.88% at ¥7 092 while Honda ended down 0.25% at ¥2 727.

equities  |  markets  |  tokyo stocks


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