BCN-03 Tokyo stocks open higher after Wall St gains

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ZCZC

BCN-03

STOCKS-MARKETS-JAPAN-OPEN

Tokyo stocks open higher after Wall St gains

TOKYO, Sept 14, 2018 (BSS/AFP) – Tokyo stocks opened higher on Friday,
backed by a weaker yen and gains on Wall Street, as traders took comfort in
more conciliatory messages on US-China trade battles.

The benchmark Nikkei 225 index rose 0.94 percent or 213.70 points to
23,035.02 in early trade, while the broader Topix index was up 0.75 percent
or 12.79 points at 1,722.81.

“Buying will likely lead in morning trade following rises in US stocks,”
SBI Securities said in a note.

Wall Street forged higher on Thursday, comforted by word of possible US-
China trade talks as well as a report showing tame consumer inflation, which
reduced fears that the Federal Reserve may raise interest rates faster than
it has indicated.

Risk appetite has also risen as Turkey’s central bank surprised markets
with a bigger-than-expected rate hike to battle soaring inflation, easing
investor concerns about emerging markets, SBI said.

The dollar was higher, trading at 112.01 yen compared with 111.94 yen in
New York Thursday afternoon, up from the mid-111 yen range seen when Tokyo
closed Thursday.

The cheaper yen lifted major exporters, with Honda up 0.84 percent at 3,205
yen and Canon up 0.44 percent at 3,421 yen.

BSS/AFP/MRI/0827 HRS