Tokyo stocks open flat ahead of Trump-Kim summit | Fin24
 
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Tokyo stocks open flat ahead of Trump-Kim summit

Jun 11 2018 07:36

Tokyo - Tokyo stocks opened flat on Monday with investors cautious ahead of key events including a historic US-North Korea summit and central bank meetings of major economies this week.

The benchmark Nikkei 225 index edged down 0.02% or 3.59 points to 22 690.91 in early trade while the broader Topix index was up 0.03% or 0.56 points at 1 782.00.

"Japanese shares this week will be moving a step forward and a step back with eyes on events such as the US-North Korea summit" and the US Fed's policy meeting on Tuesday, Okasan Online Securities said in a commentary.

Meetings of the European Central Bank and the Bank of Japan are also due later this week.

The dollar fetched ¥109.46 in early Asian trade, against ¥109.48 in New York late on Friday.

As US President Donald Trump "did not mention the core of his trade policy during the G7 summit, excessive fears are receding," Okasan's chief strategist Yoshihiro Ito said in a commentary, adding that dealers still remain cautious ahead of key events this week.

Just minutes after a joint G7 communique was published on Saturday in summit host city Quebec, Trump launched a Twitter broadside, saying he had instructed US representatives not to endorse the statement.

In Tokyo, automakers were mixed with Toyota losing 0.34% to ¥7 454 while Honda edged up 0.34% to ¥3 529.

Sony rose 0.73% to 5 490 while game giant Nintendo was down 0.38% at ¥41 430.

On Wall Street on Friday, the Dow closed up 0.3% 25 316.53.

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markets  |  tokyo stocks  |  equiities
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