Share

Tokyo stocks close higher on weak yen

Tokyo stocks rose moderately on Friday, helped by Wall Street rallies and a cheaper yen against the dollar.

The benchmark Nikkei 225 index gained 0.50% to close at 22 851.75, logging a weekly gain of 0.69%.

The broader Topix index was up 0.29% at 1 789.04. It gained 0.43% over the week.

A record high for the US tech-rich Nasdaq index and a weak yen against the dollar supported Japanese shares, said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

The dollar fetched ¥110.89 in Asian afternoon trade, up from ¥110.58 in New York and ¥109.99 in Tokyo on Thursday.

"Investors are expected to try 23 000 in Nikkei next week, but concerns over the US-China trade dispute may weigh on the market," Horiuchi told AFP.

On Wall Street, the Nasdaq surged to a fresh record Thursday, boosted by higher media shares, as traders shrugged off trade-war worries amid signs of accelerating US growth.

Meanwhile, the euro tumbled against the dollar after the ECB sketched out a longer-than-expected timeframe for hiking interest rates.

The ECB's timeframe, included as part of its announcement that it would end stimulus bond-buying this year, stood out all the more a day after the US Federal Reserve accelerated its schedule for hiking interest rates.

Investors largely ignored the Bank of Japan's widely expected decision to keep its ultra-loose monetary policy unchanged.

In Tokyo, SoftBank fell 0.19% to ¥8 324 after reports said it is mulling an investment of dozens of billions of dollars in a solar-power project in India.

Oriental Land rallied 2.48% to ¥11 960 after the Tokyo Disney Resort operator announced a plan to expand the park.

Sony was up 1.07% at ¥5 445 while Nintendo was up 1.69% at 37 760.

* 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
18.99
-0.3%
Rand - Pound
24.07
+0.2%
Rand - Euro
20.58
+0.0%
Rand - Aus dollar
12.36
+0.5%
Rand - Yen
0.13
+0.7%
Platinum
902.95
+0.1%
Palladium
998.75
-0.7%
Gold
2,153.42
-0.3%
Silver
24.92
-0.5%
Brent-ruolie
86.89
+1.8%
Top 40
65,837
-0.6%
All Share
72,075
-0.5%
Resource 10
53,082
-0.4%
Industrial 25
99,417
-1.1%
Financial 15
16,638
+0.1%
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