Tokyo stocks open modestly higher

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TOKYO, Aug 28, 2019 (BSS/AFP) – Tokyo stocks opened slightly higher on
Wednesday, as positive sentiment from China’s announcement of stimulus and
bargain-hunting purchases offset the negative impact of losses on Wall
Street.

The benchmark Nikkei 225 index was up 0.20 percent or 41.11 points at
20,497.19 in early trade, while the broader Topix index was up 0.13 percent
or 1.92 points at 1,491.61.

“Japanese shares are seen testing a rebound in the market, even if early
trade is seen affected by the negative impact from falls in US shares,”
Okasan Online Securities said in a commentary.

“The Chinese government’s announcement of measures to stimulate
consumption will be supporting Japanese shares,” it added.

The dollar fetched 105.54 yen in early Asian trade, against 105.77 yen in
New York late Tuesday.

In Tokyo, real estate firms led gains, with Mitsui Fudosan rising 2.26
percent to 2,528.5 yen and Mitsubishi Estate trading up 2.07 percent at 2,038
yen.

On Wall Street, the Dow ended down 0.5 percent at 25,777.90.

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