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STOCKS-MARKETS-JAPAN-OPEN-LEAD
Tokyo stocks open flat
TOKYO, Aug 20, 2018 (BSS/AFP) – Tokyo stocks opened flat on Monday as
investors looked for a fresh buying peg after rises last week on increased
hopes of a resolution to the US-China trade impasse.
The benchmark Nikkei 225 index gained 0.04 percent, or 8.16 points, to
22,278.54 in early trade while the broader Topix index was down 0.13 percent,
or 2.24 points, at 1,695.29.
“The market had already factored in the resumption of US-China talks
somewhat, prices will move narrowly around the closing level (of Friday),”
Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.
“Concern over the Turkish situation lingers,” he added in a commentary.
SBI Securities wrote in a note that “there are few fresh trading pegs
although there are hopes for moves to ease trade frictions between the United
States and China.”
Asian stocks rose on Friday on the news that Washington and Beijing would
resume trade talks.
US stocks rallied later in the day following a Wall Street Journal report
that Washington and Beijing were taking steps to try to resolve a trade
dispute ahead of a November summit between US President Donald Trump and
Chinese leader Xi Jinping.
The dollar was trading at 110.50 yen on Monday against 110.57 yen in New
York Friday afternoon.
In individual stocks trade, Toyota was down 0.61 percent to 6,761 yen while
Nintendo climbed 2.05 percent to 36,170 yen.
Panasonic, which supplies batteries to Tesla, was down 0.69 percent at
1,359.5 yen, after the electric carmaker’s shares tumbled on Friday as a
wide-ranging interview with chief executive Elon Musk sparked fresh fears
about the company’s future.
BSS/AFP/MR/ 1023 hrs