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STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open higher as N. Korea fears ease
TOKYO, May 28, 2018 (BSS/AFP) – Tokyo stocks opened higher on Monday as
geopolitical worries ebbed after US and North Korean officials met Sunday to
resume preparations for a summit between the leaders of the two countries.
The benchmark Nikkei 225 index edged up 0.15 percent or 33.77 points to
22,484.56 in early trade, while the broader Topix index was up 0.03 percent
or 0.48 points at 1,772.18.
“Excessive worries receded as efforts resumed for a summit between the US
and North Korea,” Okasan Online Securities strategist Yoshihiro Ito said in a
commentary.
“However active trading is not expected as there still remains
uncertainty.”
Monday trade was thin because of a lack of foreign investors as bourses in
London and New York were to be closed for public holidays on Monday, analysts
said.
Sony was up 2.10 percent at 5,188 yen, Hitachi climbed 0.60 percent at
824.7 yen, while manufacturer of chip-making equipment Tokyo Electron rose
1.52 percent at 21,655 yen after the Nasdaq ended up in New York on Friday.
The dollar fetched 109.74 yen in early Asian trade, up slightly from
109.40 yen in New York late Friday.
On Wall Street, the benchmark Dow Jones Industrial Average fell 0.2
percent to close at 24,753.09, and broader S&P 500 lost the same amount to
end at 2,721.33.
But chipmakers lifted the Nasdaq by 0.1 percent to finish at 7,433.85.
BSS/AFP/HR/1005