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STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open higher
TOKYO, July 6, 2018 (AFP) – Tokyo stocks opened higher Friday tracking
gains on Wall Street led by optimism on trade talks between the US and the
European Union.
The benchmark Nikkei 225 index advanced 0.89 percent or 190.70 points to
21,737.69 in early trade while the broader Topix was up 0.89 percent or 15.00
points at 1,691.20.
“The Tokyo market took the positive lead from New York,” said Hikaru Sato,
senior technical analyst at Daiwa Securities.
“A possible compromise between the US and EU is good news for Japan as
well,” Sato told AFP.
The US ambassador in Berlin, Richard Grenell, told bosses of Germany’s
biggest car firms that Washington was calling on the EU to bring tariffs to
zero on car imports — in exchange for equal treatment by the US. The US is
studying the possibility of imposing tariffs on autos on national security
grounds.
“The market has already factored in the impact of the present stage of the
US-China, but the issue can affect the market positively or negatively any
time in the future,” Sato said.
The dollar fetched 110.71 yen in early Asian trade, compared with 110.64
yen in New York.
Automakers were higher as Toyota jumped 1.77 percent to 7,212 yen and Honda
surged 2.01 percent to 3,248 yen.
BSS/AFP/MRI/0837 hrs