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Tokyo stocks open higher after Wall St gains

Sep 14 2018 08:05

Tokyo - Tokyo stocks opened higher on Friday, backed by a weaker yen and gains on Wall Street, as traders took comfort in more conciliatory messages on US-China trade battles.

The benchmark Nikkei 225 index rose 0.94% or 213.70 points to 23 035.02 in early trade, while the broader Topix index was up 0.75% or 12.79 points at 1 722.81.

"Buying will likely lead in morning trade following rises in US stocks," SBI Securities said in a note.

Wall Street forged higher on Thursday, comforted by word of possible US-China trade talks as well as a report showing tame consumer inflation, which reduced fears that the Federal Reserve may raise interest rates faster than it has indicated.

Risk appetite has also risen as Turkey's central bank surprised markets with a bigger-than-expected rate hike to battle soaring inflation, easing investor concerns about emerging markets, SBI said.

The dollar was higher, trading at ¥112.01 compared with ¥111.94 in New York on Thursday afternoon, up from the mid ¥111 range seen when Tokyo closed on Thursday.

The cheaper yen lifted major exporters, with Honda up 0.84% at ¥3 205 and Canon up 0.44% at ¥3 421.

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equities  |  currency  |  tokyo stocks


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