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STOCKS-MARKETS-JAPAN-OPEN
Tokyo’s Nikkei index opens higher
TOKYO, Oct 1, 2018 (BSS/AFP) – Tokyo’s benchmark Nikkei index opened
higher on Monday on a weak yen, hovering around a 27-year high.
The Nikkei 225 index, which jumped to a fresh eight-month high on Friday,
climbed 0.19 percent or 44.85 points to 24,164.89 in early trade, but the
Topix index was down 0.21 percent or 3.73 points at 1,813.52.
“The 113 yen level is definitely positive for Japanese exporters,” said
Hikaru Sato, senior technical analyst at Daiwa Securities.
The yen rose to 113.89 yen in early trade from 113.67 yen late Friday in
New York.
“While the market maintained its strong momentum, it would be no surprise
to see investors cash in on the recent gains at any time,” Sato told AFP.
Investors largely ignored a decline in business sentiment among large
Japanese manufacturers announced by the Bank of Japan shortly before the
market opened.
In Tokyo, Panasonic jumped 1.73 percent to 1,346.5 yen with Nintendo up
1.71 percent at 42,170 yen.
Automakers declined as investors locked in profits on last week’s jump
following news that the US will not impose additional tariffs on Japanese-
made cars.
Toyota lost 0.42 percent to 7,065 yen with Honda down 0.37 percent at
3,426 yen.
BSS/AFP/HR/0925