Tokyo stocks open higher amid trade fears | Fin24
 
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Tokyo stocks open higher amid trade fears

Sep 12 2018 07:57

Tokyo - Tokyo stocks opened marginally higher on Wednesday, extending rallies on Wall Street as traders shrugged off lingering trade worries, looking to individual shares with prospects of strong earnings.

The benchmark Nikkei 225 index was up 0.12% or 28.31 points at 22 693.00 in early trade, while the broader Topix index rose 0.10% or 1.65 points at 1 700.56.

The Japanese indices however quickly dropped back into negative territory.

The dollar fetched ¥111.52 in Asian trade, against ¥111.57 in New York late on Tuesday.

"Trade continues to be at the forefront of people's minds at the minute," Craig Erlam, senior market analyst at OANDA, said in a commentary.

These worries include "the risk of a trade war between the world's two largest economies, potential deals between the US and EU as negotiations get underway or the future relationship of two allies after Brexit," he added.

In Tokyo, Sony was up 0.93% at ¥6 394 and game giant Nintendo was up 1.58% at 39 770.

Automakers were lower, with Toyota down 0.70% at ¥6 653 and Honda off 1.44% at ¥3 128.

Citizen Watch, which sponsors the Japanese top tennis player Naomi Osaka who beat Serena Williams in the US Open, rallied for a second straight day, trading up 0.70% at ¥711.

In New York, the Dow Jones Industrial Average climbed 0.4% to 25 971.06.

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equities  |  currency  |  tokyo stocks
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