Tokyo stocks open higher on cheaper yen | Fin24
  • Credit Rating

    'I think Moody's will be happy' - President Ramaphosa says plan to deal with Eskom's debt is imminent.

  • 'No Basis in Fact'

    The PIC commission has slammed Iqbal Survé’s claims about Minister Pravin Gordhan.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.


Tokyo stocks open higher on cheaper yen

Dec 12 2018 08:03

Tokyo - Tokyo stocks opened higher on Wednesday helped by a cheaper yen and a rebound in European bourses after two days of declines amid lingering concerns over trade conflicts.

The benchmark Nikkei 225 index rose 0.87% or 183.06 points to 21 331.08 in early trade while the broader Topix index was up 0.82% or 12.88 points at 1 588.19.

"The Tokyo market is seen rebounding from recent drops thanks to a tailwind from rallies in European bourses and a halt in the appreciation of the yen" against the dollar, Okasan Online Securities said in a commentary.

Concerns over trade conflicts and Brexit as well as technical factors linked to the settlement of futures index trade "may prompt volatile stock movement" on Wednesday, it added.

The dollar fetched at ¥113.35 in early Asian trade, little changed from ¥113.40 in New York but up slightly from ¥113.10 in Tokyo late on Tuesday.

In Tokyo, automakers were higher with Toyota advancing 1.21% to ¥6 827 and Honda up 1.62% at ¥3 070.

Nissan rebounded 1.48% to ¥929.3 in early trade, after tumbling 3.10% on Tuesday and 2.90% on Monday after ousted chairman Carlos Ghosn was charged and faced new allegations of alleged financial misconduct.

Sony jumped 2.68% to ¥5 888 and Panasonic was up 2.95% at ¥1 081.5.

In New York, US stocks were mixed with the Dow closing down 0.2% at 24 370.24 but the tech-rich Nasdaq closing up 0.2%.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

equities  |  currency  |  markets


Company Snapshot


Struggling power utility Eskom will take centre stage at this year's mini budget

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote