BCN-06 Tokyo stocks close higher on profit-taking

205

ZCZC

BCN-06

STOCKS-JAPAN-CLOSE

Tokyo stocks close higher on profit-taking

TOKYO, Sept 9, 2019 (BSS/AFP) – Tokyo stocks closed higher on Monday on
profit-taking, as investors assessed the impact from eased, but still
lingering, worries over Brexit and the US-China trade war.

The benchmark Nikkei 225 index rose 0.56 percent, or 118.85 points, to
21,318.42 at the close, while the broader Topix index ended higher by 0.91
percent, or 14.01 points, at 1,551.11.

“The issues of Britain’s exit from the EU and the trade friction between
the US and China eased last week but are still lingering and investors are
eager to know what will happen,” Mizuho Securities said in a note.

Given the lack of fresh market-moving news, trade was moving in a narrow
range, it added.

The dollar fetched 106.89 yen in Asian trade, against 106.95 yen in New
York late Friday.

In Tokyo, electronics were higher, with Sony ending up 2.13 percent at
6,496 yen and Canon up 0.60 percent at 2,809 yen.

Banks were also higher with Mitsubishi UFJ up 1.00 percent at 525 yen and
Sumitomo Mitsui Financial up 0.34 percent at 3,538 yen.

Nissan was down 0.22 percent at 672.5 amid reports that its chief
executive plans to resign after admitting he received more pay than he was
entitled to.

Its rival Toyota closed up 0.88 percent at 7,092 yen while Honda ended
down 0.25 percent at 2,727 yen.

BSS/AFP/HR/1255