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Tokyo stocks close higher as Asian bourses rally
TOKYO, Aug 27, 2018 (BSS/AFP) – Tokyo markets closed higher on Monday
helped by a relatively cheaper yen against the dollar and rallies in other
Asian markets.
The benchmark Nikkei 225 index rose 0.88 percent or 197.87 points to close
at 22,799.64 while the broader Topix index ended up 1.16 percent or 19.75
points at 1,728.95.
Japanese shares, which opened higher encouraged by gains on Wall Street
Friday, “extended gains as China’s Shanghai market rose,” SBI Securities said
in a commentary.
This week, however, investors are likely to remain cautious over
developments in the confrontation between the US and China, and ahead of a
series of global economic data, analysts said.
The dollar fetched 111.05 yen in late Tokyo hours, down from 111.21 yen in
New York late Friday but was still higher than most of last week.
In individual stock trade, Toyota climbed 1.99 percent to 6,966 yen after a
weekend report by the Nikkei newspaper that the auto giant was planning to
build a new factory in China.
Nintendo rose 2.58 percent to 38,850 yen and Sony gained 1.89 percent to
6,170 yen.
BSS/AFP/HR/1255