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STOCKS-JAPAN-CLOSE LEAD
Tokyo shares end higher on easing US-China worries
TOKYO, Sept 24, 2019 (BSS/AFP) – Tokyo shares gained Tuesday as worries
receded over US-China trade friction, with profit-taking keeping the market
within a narrow range.
The headline Nikkei index edged up 0.09 percent, or 19.75 points, to close
at 22,098.84, while the broader Topix index added 0.42 percent, or 6.71
points, to 1,622.94.
The market stayed in positive territory throughout the day, lifted by news
that US-China trade talks will resume in two weeks, SMBC Nikko Securities
said in a note.
Fresh US data indicating better-than-expected manufacturing activity also
encouraged investors, the brokerage said.
But gains were capped by profit-taking as the market logged a third
straight day of gains, following a 10-day rally earlier in the month.
“From a technical viewpoint, the market possibly became wary of a temporary
sense of overheating,” SMBC Nikko said.
After rising in early trading, gains were trimmed as investors looked for
fresh cues.
Still, many players were keen to pick up bargains when available, Okasan
Online Securities said.
The market largely shrugged off reports that negotiations for the US-Japan
trade talks have been completed, SMBC Nikko added.
The dollar stood at 107.57 yen, compared with 107.49 yen in New York late
Monday.
Among major shares, Toyota added 0.78 percent to 7,461 yen and construction
equipment maker Komatsu rose 0.64 percent to 2,531.5 yen.
But Uniqlo-operator Fast Retailing lost 1.16 percent to 64,980 yen and
Mitsubishi UFJ Financial Group fell 0.11 percent to 566.2 yen, while
Panasonic eased 0.97 percent to 886 and SoftBank Group dropped 1.82 percent
to 4,540 yen.
BSS/AFP/SR/1955 HRS